Prior 12 months property sales increased from 566 in 2014 to 570 in 2015. February 2015 property sales vs February 2014 property sales decreased from 27 to 23 homes sold. Prior 12 months average sales price increased 3.7%, from $460,633 in 2014 to $477,699 in 2015. The February Average Sales Price increased 3.7%, from $505,856 in February 2014 to $524,670 in February 2015. The February 2015 vs. February 2014 median price decreased 1.5%, from $426,500 to $420,000. The February Average Days on Market (DOM) decreased from 126 in February 2014 to 115 in February 2015.
The February 2015 MSI of 8.86 months was at its highest level compared with February 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 February 2015 Selling Price vs. List Price of 93.0% decreased 4.8% from 97.7% in February of last year.