MARKET REPORTS & TRENDS

Property Sales

September Property sales were 6, equal to 6 in September of 2010 and -57.1% lower than the  14 sales last month.  September 2011 sales were at their lowest level compared to September of 2010 and 2009.  September YTD sales of 105 are running 32.9% ahead of  last year’s year-to-date sales of 79.

Prices

The Median Sales Price in September was $674,500, down -31.0% from $977,500 in September of 2010 and down -26.7% from $920,000 last month.  The Average Sales Price in September was $1,096,083, up 12.0% from $979,000 in September of 2010 and up 2.6% from $1,068,786 last month.  September 2011 ASP was at highest level compared to September of 2010 and 2009.

Inventory & MSI

The Total Inventory of Properties available for sale as of September was 109, down -14.2% from 127 last month and down -18.0% from 133 in September of last year.  September 2011 Inventory was at the lowest level compared to September of 2010 and 2009.

A comparatively lower MSI (monthly supply inventory) is more beneficial for sellers while a higher MSI is better for buyers.  The September 2011 MSI of 18.2 months was at a mid range compared with September of 2010 and 2009.

Market Time

The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells.  An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market.  The DOM for September was 73, down -27.7% from 101 days last month and down -47.1% from 138 days in September of last year.  The September 2011 DOM was at its lowest level compared with September of 2010 and 2009.

Inventory / New Listings / Sales

‘This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales.  The graph shows the basic annual seasonality of the market as well as the relationship between these items.  The number of New Listings in September 2011 was 16, down -27.3% from 22 last month and down -30.4% from 23 in September of last year.

For More Specific Area Market Analysis Visit: COMMUNITY REPORTS

SEPTEMBER-OCTOBER 2011

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