April Property sales were 77, down -21.4% from 98 in April of 2018 and 11.6% higher than the 69 sales last month. April 2019 sales were at their lowest level compared to April of 2018 and 2017. April YTD sales of 242 are running -13.3% behind last year's year-to-date sales of 279.
The Median Sales Price in April was $224,000, up 4.2% from $215,000 in April of 2018 and up 9.3% from $205,000 last month. The Average Sales Price in April was $241,932, up 7.5% from $224,969 in April of 2018 and up 10.6% from $218,741 last month. April 2019 ASP was at highest level compared to April of 2018 and 2017.
Inventory & MSI
The Total Inventory of Properties available for sale as of April was 174, down -7.4% from 188 last month and down -13.9% from 202 in April of last year. April 2019 Inventory was at the lowest level compared to April of 2018 and 2017.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The April 2019 MSI of 2.3 months was at a mid range compared with April of 2018 and 2017
The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for April was 61, up 19.6% from 51 days last month and down -14.1% from 71 days in April of last year. The April 2019 DOM was at its lowest level compared with April of 2018 and 2017.
Selling Price per Square Foot
The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the 'mix' of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The April 2019 Selling Price per Square Foot of $111 was equal to $111 last month and up 5.7% from $105 in April of last year.
Selling Price vs Listing Price
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. and up from 98.1% in April of last year.
Inventory / New Listings / Sales
'This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in April 2019 was 108, up 8.0% from 100 last month and up 14.9% from 94 in April of last year.
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