Price and Days on Market Analysis
The previous post was the great news about how sales #’s are up, well more great news folks.. sales prices are up too! In the past 6 months (12/12/11-6/12/12) the average sales price for residential single family homes was $796,113. For the same 6 months the previous year, the average sales price was $771,644. This means, the average sales price is up $24,469 or (3.17%) for the past 6 months compared to the year before.
For these properties analyzed the average days on the market for the previous 6 months was 229, whereas the same 6 months the year before was 277. A fantastic change of selling the home 48 days faster.
To take away a conclusion from this information is pretty darn simple. For the previous 6 months compared to the same 6 months the year before; sales are up, prices are up, and days on the market is down.
(based on averages for total sales of residential single family homes)
Keep in mind these numbers are very raw numbers with a lot of variables. If you would like a more narrow focused market analysis for your property please let us know if we can assist you.