1st Quarter 2018 – Single Family Home Sales

swilliams Real Estate

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

Number of Sales

Days on Market

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%

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