SINGLE FAMILY HOME SALES:
JAN TO MAR 2018
Single Family (SF) home sales more than doubled in the 1st quarter 2018 (48 homes sold) compared to 1st quarter 2017 (22 homes sold). Average days on market increased significantly, from 57 days in 2017, to 93 days in 2018.
Average home sales prices rose by by more than 6% overall, from $388K to $414K. The $450k to $650K category saw triple the number of sales (from 5 to 16) but lower average sales prices for this period ($534K in 2017 compared to $513K in 2018). This is due to more 2018 homes sold at the lower end of this price range. The median* home sold price in this range was $483,275 for 2018 versus $550,000 for 2017.
Comparing sold prices to list prices reveals that homes are selling at slightly below list price and that difference was greater in 2018. There are 50 SF homes listed for sale as of 4/18/2018.
* Median is the middle unit in a series, while the Average is the sum of the unit values divided by the number of units in a series.
| SALES DATA: JANUARY – MARCH |
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|
Number of Sales |
Days on Market |
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| Price Range |
2017 |
2018 |
2017 |
2018 |
|||||||
| $200,000 – 349,999 |
10 |
14 |
69 |
77 |
|||||||
| $350,000 – $449,999 |
7 |
18 |
70 |
113 |
|||||||
| $450,000 – $649,999 |
5 |
16 |
24 |
71 |
|||||||
| Total / Average DOM |
22 |
48 |
57 |
93 |
|||||||
|
Average Sales Price |
Average List Price |
Decrease |
|||||||
|
Price Range |
2017 |
2018 |
2017 |
2018 |
2017 |
2018 |
|||
| $250,000 – 349,999 | 316,350 | 320,864 | 322,580 | 331,789 |
-1.9% |
-3.3% |
|||
| $350,000 – 449,999 | 386,928 | 397,972 | 389,042 | 403,316 |
-0.5% |
-1.3% |
|||
| $450,000 -649,999 | 534,380 | 513,367 | 537,980 | 519,368 |
-0.7% |
-1.2% |
|||
| Average | $388,359 | $413,947 | $392,681 | $421,138 |
-1.1% |
-1.7% |
|||
