My ESA (Effective Service Area) of Arnold, Imperial,
Mehlville and Oakville MO Market Snap shot for May 2012 – Source: Market Quest
Graphical Market Analysis of My ESA (Effective Service Area) of Arnold, Imperial, Mehlville and Oakville, MO |
Property Sales
May property sales in my ESA were 73 listings, down 16.1% from 87 in May of 2011 and 6.4% lower than the 78 sales in April. May 2012 sales were at their lowest level compared to May of 2011 and 2010. May YTD sales of 309 are running 7.8% behind last year's year-to-date sales of 335.
The Median Sales Price in May for my ESA was $140,000, up
4.9% from $133,400 in May of 2011 and down 0.7% from $140,950 from April. The Average Sales Price in May was $155,364,
up 9.7% from $141,608 in May of 2011 and up 4.0% from $149,356 in April. May 2012 average sales price was at a mid
range compared to May of 2011 and 2010.
A comparatively lower MSI is more beneficial for sellers
while a higher MSI is better for buyers.
The May 2012 MSI of 7.8 months was at its lowest level compared with May
of 2011 and 2010.
Market Time
The average Days On Market (DOM) shows how many days the
average listing 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 May in my ESA was 110, up 5.8% from 104 days from April and equal to
110 days in May of last year. The May
2012 DOM was at a mid level compared with May of 2011 and 2010. Conclusion
With this information in hand it appears we are continuing
the trend from a buyer’s market to more balanced market.
By Bob Weibrecht, Realtor Coldwell Banker Gundaker 314-852-9566 / 636-461-2000 www.BobWeibrecht.com FYI - The goal of this blog is to provide general information related to the buying and selling of residential real estate. The reader is highly encouraged to consult the services of a professional real estate agent during the transaction. This blog is not a substitute for any type of professional assistance which may be required.