June property sales were up 6% over the same time last year, from 67 in June 2013 to 71 homes sold this year. Prior 12 months sales are up 11.7% at 564 vs. 505 for last year. Prior 12 months average sales price increased 3.8%, from $433,650 in 2013 to $450,120 in 2014. The June Average Sales Price was stable at $486,331. The June 2014 vs. June 2013 median price decreased 2.6%, from $390,000 to $380,000. The June average Days on Market (DOM) decreased from 90 in June 2013 to 85 in June 2014.
The June 2014 MSI of 5.67 months was at its highest level compared with June of 2013. 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 June 2014 Selling Price vs. List Price of 95.7% decreased slightly from 96.4% in June of last year.