MA ARCHIVED July 2016 | Page 34

Somerset Community Information

Somerset Community Information

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
$ 149,900
-3%
7 %
Average List Price of all Current Listings
$ 210,033
-2%
1 %
July Median Sales Price
$ 143,500
44 %
39 % 173 %
99 %
$ 81,500
19 %
13 %
July Average Sales Price
$ 161,182
57 %
25 % 100 %
53 %
$ 119,534
23 %
14 %
Total Properties Currently for Sale ( Inventory )
219
-4%
-23%
July Number of Properties Sold
21
31 %
133 %
133
20 %
July Average Days on Market ( Solds )
181
44 %
30 % 110 %
27 %
145
-6%
2 %
Asking Price per Square Foot ( based on New Listings )
$ 93
0 %
0 %
18 %
11 %
$ 93
11 %
11 %
July Sold Price per Square Foot
$ 85
56 %
25 %
49 %
39 %
$ 63
-2%
3 %
July Month ' s Supply of Inventory
10.4
-26%
-14%
-67%
-37%
11.6
-38%
-29%
July Sale Price vs List Price Ratio
89.4 %
5.7 %
2.3 % 13.5 %
8.3 %
85.7 %
5 %
4 %
* LM = Last Month / L3M = Last 3 Months / PYM = Same Month Prior Year / LY = Last Year ( 2015 ) / YTD = Year-to-date
3 Mo Avg
Property Sales
30
July Property sales were 21 , up 133.3 % from 9 in July of 2015
and 31.3 % higher than the 16 sales last month . July 2016 sales were at their highest level compared to July of 2015 and 2014 .
25
July YTD sales of 133 are running 19.8 % ahead of last year ' s yearto-date sales of 111 .
20
15
10
Number of Properties Sold
3 Mo Avg
5
Prices The Median Sales Price in July was $ 143,500 , up 173.3 % from $ 52,500 in July of 2015 and up 43.5 % from $ 100,000 last month . The Average Sales Price in July was $ 161,182 , up 100.1 % from $ 80,544 in July of 2015 and up 57.0 % from $ 102,669 last month . July 2016 ASP was at the highest level compared to July of 2015 and 2014 .
19 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
0
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 N D
J
F M A M
J
J
13
14
15
16
Median Sales Price and Average Sales Price
3 Mo Avg
200 180 160 140 120 100 80 60 40 20 0
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 N D
J
F M A M J
13
14
15
16
J
3 Mo Avg
Inventory & MSI The Total Inventory of Properties available for sale as of July was 219 , down 3.5 % from 227 last month and down 23.2 % from 285 in July of last year . July 2016 Inventory was at its lowest level compared with July of 2015 and 2014 .
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers . The July 2016 MSI of 10.4 months was at its lowest level compared with July of 2015 and 2014 .
350
300
250
200
150
100
50
0
Total Inventory & Month ' s Supply of Inventory ( MSI )
350
300
250
200
35.0
30.0
25.0
20.0
150
15.0
100
10.0
50
5.0
0
0.0
A
S AO
NS OD
NJ FD
MJ
AF M JA JM AJ S JOAN SD
OJ
NF DM JA
MF MJ
AJ
MA SJ
OJ
NA DS JO FNM DA JMF
JMJ A M J
J
13
13
14
14
15
15
16
16
285
276
285
267
276
270
257 267
245 270
231 257
256 245
231 280 256
303 306 280
303
296 287
306 280
296
275 287
262
280 247 241
275
237 262
230 247
247 241
237 259
230 275
247 285
259 292
264 275
249 285
236 292 209 264
197 249
204 236
209 209 216 197 224 204 227 209 219 216
224
227
219
35.0 30.0 25.0 20.0 15.0 10.0 5.0 0.0
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