MA ARCHIVED August 2016 | Page 34

Market Action Report August 2016
Community Information
Market Action Report August 2016

County : Somerset

Price Range : All | Properties : SFH - Con
Trending versus *:
Trending versus *:
Market Profile & Trends Overview
Month
LM
L3M
PYM
LY
YTD
Prior YTD
Prior Year
Median List Price of all Current Listings
$ 140,950
-4%
1 %
Average List Price of all Current Listings
$ 205,816
-1%
-0%
August Median Sales Price
$ 88,500
-38% -17% 13 %
23 %
$ 81,500
17 %
13 %
August Average Sales Price
$ 102,380
-36% -19% -36%
-3%
$ 117,900
9 %
12 %
Total Properties Currently for Sale ( Inventory )
230
2 %
-21%
August Number of Properties Sold
14 -33%
-39%
147
10 %
August Average Days on Market ( Solds )
105 -42% -24% -11% -26%
141
-5%
-1%
Asking Price per Square Foot ( based on New Listings )
$ 89
-2%
-2%
14 %
6 %
$ 91
10 %
8 %
August Sold Price per Square Foot
$ 69
-18% -2%
30 %
14 %
$ 64
3 %
5 %
August Month ' s Supply of Inventory
16.4
53 %
18 %
29 %
-0%
12.3
-32%
-25%
August Sale Price vs List Price Ratio
91.0 %
1.8 % 2.6 % 9.5 % 10.2 %
86.2 %
5 %
4 %
* LM = Last Month / L3M = Last 3 Months / PYM = Same Month Prior Year / LY = Last Year ( 2015 ) / YTD = Year-to-date
Property Sales August Property sales were 14 , down 39.1 % from 23 in August of 2015 and 33.3 % lower than the 21 sales last month . August Property Sales 2016 sales were at their lowest level compared to August of 2015 30 August Property sales were 14 , down 39.1 % from 23 in August of and 2014 . August YTD sales of 147 are running 9.7 % ahead of 2015 and 33.3 % lower than the 21 sales last month . August
25
2016
last sales
year ' s were
year-to-date at their lowest
sales level
of 134 compared
. to August of 2015 and 2014 . August YTD sales of 147 are running 9.7 % ahead of
20 last year ' s year-to-date sales of 134 .

Somerset

Agent Name
Title Phone Website Other

Community Information

15
30
25
20
15
10
Number of Properties Sold
Number of Properties Sold
3 Mo Avg
3 Mo Avg
10 5
5
0
0
S
O N D
J
F M A M J
J
A S O N D
J
F M A M J
J
A S O N D
J
F M A M J
J
A
13
14
15
16
O N D
J
F M A M J
J
A S O N D
J
F M A M J
J
A S O N D
J
F M A M J
14
Median Sales 15Price and Average Sales
16 Price
J
A
3 Mo Avg
Median Sales Price and Average Sales Price
S 13
17 18 18 10 8 10 20 15 13 18 14 24 15 17 20 14 9 10 23 16 22 22 9 23 19 16 17 21 13 18 22 24 19 16 21 14
Prices
The Median Sales Price in August was $ 88,500 , up 13.5 % from
Prices
$ 78,000 in August of 2015 and down 38.3 % from $ 143,500 last
The month Median
. The Sales
Average
Price Sales in August
Price was in August
$ 88,500 was , up $ 13.5 102,380
% from , down
200
$ 78,000 in August of 2015 and down 38.3 % from $ 143,500 last
36.1 % from $ 160,215 in August of 2015 and down 36.5 % from month . The Average Sales Price in August was $ 102,380 , down
180
$ 161,182 last month . August 2016 ASP was at the lowest level
36.1 % from $ 160,215 in August of 2015 and down 36.5 % from
160 compared to August of 2015 and 2014 .
$ 161,182 last month . August 2016 ASP was at the lowest level
140 compared to August of 2015 and 2014 .
120
100
200
180
160
140
120
100
80
3 Mo Avg
80
60
60
40
40
20
20
0
0
S
O N D
J
F M A M J
J
A S O N D
J
F M A M J
J
A S O N D
J
F M A M J
J
A
S
O
13 N D
J
F
14 M A M J
J
A S O N D
J
F M15A M J
J
A S O N D
J
F M A16M J
J
A
13
14
15
16
Inventory & MSI
Inventory
The Total Inventory & MSI of Properties available for sale as of August
The was Total 230 , Inventory up 1.8 % from of Properties 226 last available month and for sale down as 21.2 of August % from was 230 , up 1.8 % from 226 last month and down 21.2 % from
350
292 in August of last year . August 2016 Inventory was at its
292 lowest in August level compared of last year with . August
August 2016 of Inventory 2015 and was 2014 at . its
300 lowest level compared with August of 2015 and 2014 .
250
200
350
300
250
200
Total Inventory & Month ' s Supply of Inventory ( MSI )
Total Inventory & Month ' s Supply of Inventory ( MSI )
35.0
30.0
25.0
20.0
35.0
30.0
25.0
20.0
150
A comparatively lower MSI is more beneficial for sellers while a
A comparatively lower MSI is more beneficial for sellers while a
100 higher higher MSI
MSI is is better
better for
for buyers
buyers . The
. The August
August 2016
2016 MSI
MSI of 16.4
of 16.4 months months was was at at its its highest highest level level compared compared with with August August of 2015 of 2015
50 and and 2014 2014 . .
0
150
15.0
100
10.0
50
5.0
0
0.0
S
O SN OD NJ FD MJ
AF
M JA JM AJ S
J OAN SD OJ
NF DM JA
MF MJ
AJ
MA SJ
OJ NA DS JO FN MD AJMF
JMJ AA M J
J A
15.0
10.0
5.0
0.0
13
13
14
14
15
15
16
16
276
17 18
267
270 276
257 267 18 10 8 10 20 15 13
245 270
231 257
256 245
231 280
256 303
280
306 296
303
18 306
287
280 14 24 15 17 20 14 9 10 23 16 22
296
275 287
262 280
247
275 241 237
262
230 247
247 241
237 259
230 275
247 285
259 292
264 275
249 285
236 292
209 264 197 249
205
236 210 209 217 197 225 205 231 210 226 217 230 225
22 9 23 19 16 17 21 13 18 22 24
231 19
226 16
230 21 14
34 | c o l d w e l l b a n k e r h o m e s . c o m
Copyright © Coldwell Banker Residential Brokerage | Price Range : All | Property Types : SFH - Con Data is provided courtesy of Coastal Association of REALTORS of MD , Inc ., Metropolitan Regional Information Systems , Inc ., Sussex County Association of REALTORS and may not reflect all relevant real estate activity . Coldwell Banker Residential Brokerage does not warrant or guarantee the accuracy of this information . It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer ’ s real estate transaction .