Real Estate Market Update
January 2018 is a Seller’s market! The number of for sale listings was up 33.3% from one year earlier and down 4.8% from the previous month. The number of sold listings decreased 36.4% year over year and decreased 46.2% month over month. The number of under contract listings was up 233.3% compared to previous month and the same compared to previous year. The Months of Inventory based on Closed Sales is 2.9, up 110% from the previous year.
The Average Sold Price per Square Footage was up 1.1% compared to previous month and up 5.8% compared to last year. The Median Sold Price increased by 22.4% from last month. The Average Sold Price also increased by 24.5% from last month. Based on the 6 month trend, the Average Sold Price trend is “Appreciating” and the Median Sold Price trend is “Neutral”.
The Average Days on Market showed a neutral trend, a decrease of 13.2% compared to previous year. The ratio of Sold Price vs. Original List Price is 96%, an increase of 2.1% compared to previous year.
Proprietary charts with momentum (Þ):
- For Sale, Sold, Pended (Downtown)
- Avg Price Per Square Foot (Downtown)
- Avg CDOM, SP/OLP (Downtown)
- Median, Sold, For Sale (Downtown)
- Mos Inventory (Downtown)
Downtown and Midtown provide great urban housing. There are lofts, bungalows, multi- and single-family homes. Some houses attract young buyers who like the night-club scene. Lofts, ironically, attract some very lofty prices. Make sure you remember that all zip codes have good, bad and ugly.
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