Prior 12 months property sales increased from 565 in 2014 to 573 in 2015. March 2015 property sales vs March 2014 property sales increased from 45 to 48 homes sold. Prior 12 months average sales price increased 6.1%, from $456,184 in 2014 to $484,144 in 2015. The March Average Sales Price increased 20.4%, from $400,795 in March 2014 to $482,533 in March 2015. The March 2015 vs. March 2014 median price increased 2.9%, from $350,000 to $360,000. The March Average Days on Market (DOM) decreased from 145 in March 2014 to 121 in March 2015.
The March 2015 MSI of 9.68 months was at its highest level compared with March of 2014. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. Remember, 5.5 months is considered a “balanced” market by most.
The Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100%, the more of a Buyer's market exists; a ratio at or above 100% indicates more of a Seller's market. The March 2015 Selling Price vs. List Price of 93.5% increased 1% from 92.6% in March of last year.