|
Some people love data, and we understand that. To get a better feel of the value of real estate, it is often worthwhile to look at the real estate statistics of the area. Interested in statistics specific to neighborhoods? Check out our neighborhoods section.
All the market trend charts on this page are 'live'. Bookmark this page to watch the market change each week. Want more details? Subscribe to our Real-Time Market Report. It's all about what's going on right now and it's free!
|
|
Median List Price
Median List Price is an important statistic because it is a good indicator of what direction Brokers and Home Sellers think the market is heading. Since median is the absolute middle of our market it shows what is selling.
A lower median number indicates a greater volume of lower priced homes are selling. Many buyers confuse a lower median number with the overall value of the market.
continue reading...
|
|
|
Average Days on Market
Days on Market is a measure of how many days it took a home to sell. This is an important number because it shows how long the average home takes to sell. When we see homes that have a significantly higher number of days on market then the average, we tend to look for red flags. This number only reflects the the Days on Market for homes that have Sold/Closed for the month.
This statistic is very price sensitive, the higher the price range the longer the days on market tends to be.
continue reading...
|
|
|
Median Price Per Square Foot
This statistic shows the median price per reported square feet. This is useful as a common denominator measurement of value in a market. In some markets, square footage data may be unreliable.
Other factors such as lot size, view potential and area may skew this number making it difficult to use as a comparison statistic.
continue reading...
|
|
|
Inventory
Inventory is established by the rate at which our market can absorb a particular classification of property.
In this case we use Single Family, Detached residences (aka. Houses). This rate of absorption is based off of historical sales data.
Looking at historical inventory numbers, lower numbers favor sellers and higher numbers favor buyers.
continue reading...
|
|
|
|
|
