Market
Snap Shot of My Effective Service Area (ESA)
of
Fox, Seckman, Oakville and Mehlville Schools for April 2012
Property Sales
April
2012 property sales were 159 units, up 12.8% from 141 in April of 2011 and
37.1% higher than the 116 sales last month.
April 2012 sales were at a mid level compared to April of 2011 and
2010. April YTD sales of 453 are running
6.1% ahead of last year's year-to-date sales of 427.
Prices
The
Median Sales Price in April 2012 was $147,000, up 2.1% from $144,000 in April 2011
and up 12.2% from $131,050 last month.
The Average Sales Price (ASP) in April was $154,495, down 0.7% from
$155,558 in April of 2011 and up 8.2% from $142,763 last month. April 2012 ASP was at the lowest level
compared to April of 2011 and 2010.
Inventory & MSI
The
Total Inventory of Properties (TIP) available for sale as of April 2012 was
1,030, down 0.2% from 1,032 last month and down 26.2% from 1,395 in April of
last year. April 2012 inventory was at
its lowest level compared with April of 2011 and 2010.
A
comparatively lower Months Supply of Inventory (MSI) is more beneficial for
sellers while a higher MSI is better for buyers. The April 2012 MSI of 6.5 months was at its
lowest level compared with April of 2011 and 2010.
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 April 2012 was 95, down 20.2% from 119 days last month and
down 24.6% from 126 days in April of last year.
The April 2012 DOM was at its lowest level compared with April of 2011
and 2010.
Selling Price per Square Foot
The
Selling Price per Square Foot (SPSF) is a great indicator for the direction of
Property values. Since Median Sales
Price and Average Sales price can be impacted by the 'mix' of high or low end
Properties in the market, the selling price per square foot is a more
normalized indicator on the direction of Property values. The April 2012 Selling Price per Square Foot
of $93 was down 2.2% from $95 last month and up 0.8% from 93 in April of last
year.
Selling Price vs. Original
Listing Price
The
Selling Price vs. Original Listing Price reveals the average amount that Sellers
are agreeing to come down from their original list price. The lower the ratio is below 100% the more of
a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's
market. The April 2012 Selling Price vs
Original List Price of 97.0% was up from 95.8% last month and up from 95.6% in
April of last year.
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 April 2012 was 284, down 9.0% from 312 last month and down 13.7%
from 329 in April of last year.
Source - MarketQuest.
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.
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