By Art Wilson, Realtor
Park's March Property sales were 23, down -32.4% from 34 in March of
2013 and 27.8% higher than the 18 sales last month. March 2014 sales
were at their lowest level compared to March of 2013 and 2012. March YTD
sales of 64 are running -24.7% behind last year's year-to-date sales of
Median Sales Price in March was $391,500, up 6.7% from $367,000 in
March of 2013 and down -19.7% from $487,500 last month. The Average
Sales Price in March was $466,035,
up 12.2% from $415,276 in March of 2013 and down -15.5% from $551,350
last month. March 2014 ASP was at highest level compared to March of 2013 and 2012.
Total Inventory of Properties available for sale as of March was 148,
up 1.4% from 146 last month and down -38.8% from 242 in March of last
March 2014 Inventory was at the lowest level compared to March of 2013 and 2012.
The March 2014 Months Supply of Inventory of 6.4 months was at its lowest level compared
with March of 2013 and 2012. A comparatively lower MSI is more
beneficial for sellers while a higher MSI is better for buyers.
average Days On Market (DOM) is how many days the average Property is
on the Market before it sells. An upward trend in DOM tends to indicate a
towards more of a Buyer's market, a downward trend a move towards more
of a Seller's market. The DOM for March was 96, up 118.2% from 44 days last
month and down -36.8% from 152 days in March of last year. The March
2014 DOM was at its lowest level compared with March of 2013 and 2012.
Selling Price vs Listing Price is the average amount that Sellers are
agreeing to come down from their 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 March 2014 Selling Price vs
List Price of 94.7% was down from 96.5% last month and up from 93.4% in
March of last year.
The number of New Listings in March 2014 was 77, up 18.5% from 65 last month and up 8.5% from 71 in March of last year.