Median Price for a single family home This includes both Homes, condos and townhomes. For the purposes of this graph they are all single family homes. The Median sales price is more accurate for an average price than a simple average as if a very expensive home or extremely inexpensive home sold can thru the average off.
Weeks of Inventory If no new homes came on the market, how long would it take for all the homes on the market to sell, also termed absorption rate. A normal market is around 6 months of inventory. Less is considered a sellers market, more, a buyer’s market.
Median Days Homes Spent on the Market How long does it take for the average home to go under contract. Again the Median is more accurate as a home that is overpriced and takes longer would skew the average.
Home Listings on the Market MOM stands for Month over Month and YOY stands for Year over Year. The dramatic reduction YOY of Active homes is due to homes going on the market and selling right away before the graph is generated.
Homes Sold Homes Homes sold and homes sold year to date are down significantly due to the lack of inventory to sell. Thinking of selling now is a great time to sell.
If you have more questions, do not hesitate to contact me for answers. I am always here to help
Blog Archive2018-04-12 15:13:26
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