mibor service area (1-5) bartholomew county (6) … · the housing market is one of the largest and...
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© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association
MIBOR SERVICE AREA (1-5)
BARTHOLOMEW COUNTY (6)
BOONE COUNTY (7)
BROWN COUNTY (8)
DECATUR COUNTY (9)
HAMILTON COUNTY (10)
HANCOCK COUNTY (11)
HENDRICKS COUNTY (12)
JACKSON COUNTY (13)
JENNINGS COUNTY (14)
JOHNSON COUNTY (15)
MADISON COUNTY (16)
MARION COUNTY (17)
MONTGOMERY COUNTY (18)
MORGAN COUNTY (19)
PUTNAM COUNTY (20)
SHELBY COUNTY (21)
The housing market is one of the largest and most important sectors of the U.S. economy. To understand the trends within the market one must analyze activity both month-over-month and year-over-year. In this new Market Insights Report, MIBOR REALTOR® Association (MIBOR) provides a market analysis of the 16 central Indiana counties within the MIBOR service area by creating a single, timely, reliable source of data.
To create a comprehensive view of the market, small changes have been made to the Market Insights Report that will affect the year-over-year analysis over the next 12 months. In prior reports, data for the MIBOR Broker Listing Cooperative® (BLC®) listing service was pulled on the 12th business day for the prior month's data. After analyzing data input, MIBOR has updated the data pull to happen between the 5th and 7th day of the month for the prior month, allowing market data to be published much sooner. Additionally, in the new report MIBOR has separated townhouse/condo inventory and properties for lease from the aggregated totals. Separating other segments from the report will add clarity to the data as the singe-family residential segment is typically the focus. Finally, in March 2019, MIBOR added historical and current data from Jackson County as we welcomed them as members of our BLC® listing service.
Statistics show a strong indication that prices are beginning to stabilize, which is a welcomed notion for buyers. Last year at this time, median sales prices were increasing in the double digits, now growth is half to a third of that. Additionally, closed price to original listing price had been growing for over 6 years (May 2012 - October 18), but since November 2018 that has steadily declined.
Year over Year data for May:
• Median sales price increase 3.2% to $196,000• Average days on market was unchanged at 36• Current active listings increase to 5,431
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 1
Median Sales Price $196,000 $187,000 4.8% $189,900 3.2% $185,000 $175,000 5.7%
Closed Sales 3,418 3,001 13.9% 3,511 -2.6% 12,731 13,124 -3.0%
New Listings 4,661 4,080 14.2% 4,705 -0.9% 17,291 17,567 -1.6%
Pending Sales 3,939 3,529 11.6% 3,635 8.4% 15,522 15,794 -1.7%
Days on Market 36 43 -16.3% 36 0.0% 49 55 -10.9%
Price per Square Foot $115 $110 4.5% $109 5.5% $109 $103 5.8%
% of Ask Received 98.2% 97.9% 0.3% 98.5% -0.3% 97.5% 97.8% -0.3%
Active Inventory 5,431 4,823 12.6% 5,162 5.2%
Absorption Rate 1.6 1.6 0.0% 1.5 6.7%
2019 2018 YTDMay 2019 Apr 2019 MOM May 2018 YOY
May 2019 Month over Month Change Year over Year Change Year to Date Change
4,661 14.2% -0.9% -1.6%
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 2
May 2019 Month over Month Change Year over Year Change Year to Date Change
3,939 11.6% 8.4% -1.7%
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
May 2019 Month over Month Change Year over Year Change Year to Date Change
3,418 13.9% -2.6% -3.0%
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
Pending Sales
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 3
May 2019 Month over Month Change Year over Year Change Year to Date Change
36 -16.3% 0.0% -10.9%
0
10
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30
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50
60
70
80
90
100
May 2019 Month over Month Change Year over Year Change Year to Date Change
$196,000 4.8% 3.2% 5.7%
$120,000
$140,000
$160,000
$180,000
$200,000
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 4
May 2019 Month over Month Change Year over Year Change Year to Date Change
$115 4.5% 5.5% 5.8%
$80
$85
$90
$95
$100
$105
$110
$115
$120
May 2019 Month over Month Change Year over Year Change Year to Date Change
98.2% 0.3% -0.3% -0.3%
94%
95%
96%
97%
98%
99%
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 5
May 2019 Month over Month Change Year over Year Change
5,431 12.6% 5.2%
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
May 2019 Month over Month Change Year over Year Change
1.6 0.0% 6.7%
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 6
Median Sales Price $189,450 $193,700 -2.2% $193,900 -2.3% $182,100 $172,900 5.3%
Closed Sales 118 88 34.1% 141 -16.3% 405 517 -21.7%
New Listings 120 131 -8.4% 150 -20.0% 504 636 -20.8%
Pending Sales 117 111 5.4% 111 5.4% 474 596 -20.5%
Days on Market 35 53 -34.0% 56 -37.5% 52 69 -24.6%
Price per Square Foot $120 $111 8.1% $122 -1.6% $113 $111 1.8%
% of Ask Received 97.4% 98.1% -0.7% 98.3% -0.9% 97.2% 97.4% -0.2%
Active Inventory 162 163 -0.6% 193 -16.1%
Absorption Rate 1.4 1.9 -26.3% 1.4 0.0%
MOM YOY YTDMay 2019 Apr 2019 May 2018 2019 2018
$120,000
$140,000
$160,000
$180,000
$200,000
$220,000
Median Sales Price
0
20
40
60
80
100
120
140
160
May2016
Jul2016
Sep2016
Nov2016
Jan2017
Mar2017
May2017
Jul2017
Sep2017
Nov2017
Jan2018
Mar2018
May2018
Jul2018
Sep2018
Nov2018
Jan2019
Mar2019
May2019
Number of Closed Sales
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 7
Median Sales Price $294,750 $299,900 -1.7% $264,000 11.6% $289,500 $249,900 15.8%
Closed Sales 122 91 34.1% 124 -1.6% 420 445 -5.6%
New Listings 187 156 19.9% 148 26.4% 651 652 -0.2%
Pending Sales 138 134 3.0% 107 29.0% 539 560 -3.8%
Days on Market 44 46 -4.3% 47 -6.4% 60 71 -15.5%
Price per Square Foot $135 $131 3.1% $127 6.3% $131 $121 8.3%
% of Ask Received 97.8% 98.7% -0.9% 97.9% -0.1% 97.7% 98.0% -0.3%
Active Inventory 266 225 18.2% 244 9.0%
Absorption Rate 2.2 2.5 -12.0% 2.0 10.0%
2019 2018 YTDMay 2019 Apr 2019 MOM May 2018 YOY
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
Median Sales Price
0
20
40
60
80
100
120
140
160
180
May2016
Jul2016
Sep2016
Nov2016
Jan2017
Mar2017
May2017
Jul2017
Sep2017
Nov2017
Jan2018
Mar2018
May2018
Jul2018
Sep2018
Nov2018
Jan2019
Mar2019
May2019
Number of Closed Sales
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 8
Median Sales Price $265,000 $231,450 14.5% $183,050 44.8% $224,030 $188,000 19.2%
Closed Sales 35 22 59.1% 36 -2.8% 100 106 -5.7%
New Listings 50 38 31.6% 54 -7.4% 169 164 3.0%
Pending Sales 34 27 25.9% 32 6.3% 115 124 -7.3%
Days on Market 75 124 -39.5% 75 0.0% 86 117 -26.5%
Price per Square Foot $167 $203 -17.7% $150 11.3% $167 $149 12.1%
% of Ask Received 96.1% 96.4% -0.3% 96.4% -0.3% 95.5% 95.7% -0.2%
Active Inventory 103 93 10.8% 103 0.0%
Absorption Rate 2.9 4.2 -31.0% 2.9 0.0%
May 2019 Apr 2019 MOM May 2018 YOY 2019 2018 YTD
$125,000
$175,000
$225,000
$275,000
$325,000
Median Sales Price
0
5
10
15
20
25
30
35
40
May2016
Jul2016
Sep2016
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Jan2017
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Number of Closed Sales
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 9
Median Sales Price $159,900 $121,250 31.9% $130,000 23.0% $140,000 $122,500 14.3%
Closed Sales 31 26 19.2% 31 0.0% 111 108 2.8%
New Listings 54 32 68.8% 40 35.0% 162 152 6.6%
Pending Sales 31 31 0.0% 38 -18.4% 128 129 -0.8%
Days on Market 38 63 -39.7% 61 -37.7% 69 79 -12.7%
Price per Square Foot $106 $85 24.7% $86 23.3% $94 $82 14.6%
% of Ask Received 97.1% 95.0% 2.2% 94.5% 2.8% 95.1% 93.8% 1.4%
Active Inventory 83 58 43.1% 66 25.8%
Absorption Rate 2.7 2.2 22.7% 2.1 28.6%
YTDMay 2019 Apr 2019 May 2018 YOY 2019 2018MOM
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
Median Sales Price
0
5
10
15
20
25
30
35
40
May2016
Jul2016
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Number of Closed Sales
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 10
Median Sales Price $295,000 $290,000 1.7% $298,300 -1.1% $292,900 $287,500 1.9%
Closed Sales 674 543 24.1% 727 -7.3% 2,375 2,473 -4.0%
New Listings 979 785 24.7% 1015 -3.5% 3,459 3,598 -3.9%
Pending Sales 732 672 8.9% 795 -7.9% 2,909 3,168 -8.2%
Days on Market 42 48 -12.5% 48 -12.5% 56 63 -11.1%
Price per Square Foot $136 $137 -0.7% $130 4.6% $135 $129 4.7%
% of Ask Received 98.5% 98.5% 0.0% 98.8% -0.3% 98.2% 98.4% -0.2%
Active Inventory 1,262 1,056 19.5% 1181 6.9%
Absorption Rate 1.9 1.9 0.0% 1.6 18.8%
May 2019 Apr 2019 MOM May 2018 YOY 2019 2018 YTD
$220,000
$240,000
$260,000
$280,000
$300,000
$320,000
Median Sales Price
0
100
200
300
400
500
600
700
800
900
May2016
Jul2016
Sep2016
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May2017
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Number of Closed Sales
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 11
Median Sales Price $197,000 $207,000 -4.8% $178,250 10.5% $196,000 $184,500 6.2%
Closed Sales 160 121 32.2% 124 29.0% 540 493 9.5%
New Listings 194 168 15.5% 171 13.5% 738 654 12.8%
Pending Sales 160 155 3.2% 132 21.2% 665 604 10.1%
Days on Market 32 47 -31.9% 27 18.5% 50 54 -7.4%
Price per Square Foot $104 $107 -2.8% $96 8.3% $104 $97 7.2%
% of Ask Received 98.0% 98.0% 0.0% 98.6% -0.6% 97.9% 98.0% -0.1%
Active Inventory 230 202 13.9% 178 29.2%
Absorption Rate 1.4 1.7 -17.6% 1.4 0.0%
2019 2018 YTDMay 2019 Apr 2019 MOM May 2018 YOY
$120,000
$140,000
$160,000
$180,000
$200,000
$220,000
Median Sales Price
0
20
40
60
80
100
120
140
160
180
May2016
Jul2016
Sep2016
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Jan2017
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May2017
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Number of Closed Sales
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 12
Median Sales Price $229,200 $212,500 7.9% $200,900 14.1% $215,900 $204,000 5.8%
Closed Sales 256 247 3.6% 349 -26.6% 1,011 1,169 -13.5%
New Listings 403 354 13.8% 410 -1.7% 1,394 1,503 -7.3%
Pending Sales 347 283 22.6% 333 4.2% 1,260 1,422 -11.4%
Days on Market 25 28 -10.7% 33 -24.2% 38 52 -26.9%
Price per Square Foot $117 $113 3.5% $105 11.4% $112 $104 7.7%
% of Ask Received 98.9% 98.7% 0.2% 98.9% 0.0% 98.6% 98.6% 0.0%
Active Inventory 389 328 18.6% 395 -1.5%
Absorption Rate 1.5 1.3 15.4% 1.1 36.4%
2018 YTDMay 2019 Apr 2019 MOM May 2018 YOY 2019
$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
Median Sales Price
0
50
100
150
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400
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Number of Closed Sales
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 13
Median Sales Price $120,000 $136,500 -12.1% $129,900 -7.6% $134,000 $129,900 3.2%
Closed Sales 35 41 -14.6% 27 29.6% 117 87 34.5%
New Listings 57 45 26.7% 20 185.0% 199 109 82.6%
Pending Sales 61 36 69.4% 15 306.7% 173 94 84.0%
Days on Market 94 103 -8.7% 52 80.8% 78 76 2.6%
Price per Square Foot $83 $92 -9.8% $81 2.5% $88 $81 8.6%
% of Ask Received 94.4% 96.8% -2.5% 97.6% -3.3% 96.2% 96.7% -0.5%
Active Inventory 60 75 -20.0% 54 11.1%
Absorption Rate 1.7 1.8 -5.6% 2.0 -15.0%
May 2019 Apr 2019 MOM May 2018 YOY 2019 2018 YTD
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
Median Sales Price
0
5
10
15
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25
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45
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Number of Closed Sales
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 14
Median Sales Price $140,000 $139,900 0.1% $109,900 27.4% $115,750 $95,000 21.8%
Closed Sales 13 19 -31.6% 18 -27.8% 64 64 0.0%
New Listings 31 24 29.2% 31 0.0% 103 111 -7.2%
Pending Sales 24 15 60.0% 24 0.0% 82 83 -1.2%
Days on Market 34 19 78.9% 45 -24.4% 45 64 -29.7%
Price per Square Foot $80 $96 -16.7% $80 0.0% $83 $71 16.9%
% of Ask Received 94.4% 98.1% -3.8% 97.9% -3.6% 94.5% 95.9% -1.5%
Active Inventory 42 37 13.5% 42 0.0%
Absorption Rate 3.2 1.9 68.4% 2.3 39.1%
May 2019 Apr 2019 MOM May 2018 YOY 2019 2018 YTD
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
Median Sales Price
0
5
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Number of Closed Sales
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 15
Median Sales Price $200,000 $199,900 0.1% $195,000 2.6% $191,872 $175,000 9.6%
Closed Sales 269 253 6.3% 284 -5.3% 997 1,051 -5.1%
New Listings 358 304 17.8% 357 0.3% 1,315 1,394 -5.7%
Pending Sales 295 253 16.6% 315 -6.3% 1,191 1,259 -5.4%
Days on Market 29 40 -27.5% 35 -17.1% 44 50 -12.0%
Price per Square Foot $117 $111 5.4% $114 2.6% $113 $105 7.6%
% of Ask Received 98.7% 98.6% 0.1% 98.7% 0.0% 98.4% 98.5% -0.1%
Active Inventory 361 293 23.2% 356 1.4%
Absorption Rate 1.3 1.2 8.3% 1.3 0.0%
May 2019 Apr 2019 MOM May 2018 YOY 2019 2018 YTD
$120,000
$140,000
$160,000
$180,000
$200,000
$220,000
Median Sales Price
0
50
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May2016
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Number of Closed Sales
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 16
Median Sales Price $125,500 $106,000 18.4% $114,000 10.1% $112,950 $97,000 16.4%
Closed Sales 150 144 4.2% 135 11.1% 596 591 0.8%
New Listings 199 188 5.9% 202 -1.5% 774 744 4.0%
Pending Sales 188 167 12.6% 152 23.7% 755 682 10.7%
Days on Market 40 51 -21.6% 45 -11.1% 53 68 -22.1%
Price per Square Foot $73 $67 9.0% $71 2.8% $69 $64 7.8%
% of Ask Received 96.4% 95.2% 1.3% 96.2% 0.2% 95.5% 95.0% 0.5%
Active Inventory 260 247 5.3% 265 -1.9%
Absorption Rate 1.7 1.7 0.0% 2.0 -15.0%
2018 YTDMay 2019 Apr 2019 MOM May 2018 YOY 2019
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
Median Sales Price
0
20
40
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May2016
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Number of Closed Sales
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 17
Median Sales Price $167,000 $160,500 4.0% $160,000 4.4% $157,000 $149,699 4.9%
Closed Sales 1,307 1,160 12.7% 1260 3.7% 5,060 5,064 -0.1%
New Listings 1,702 1,545 10.2% 1732 -1.7% 6,591 6,492 1.5%
Pending Sales 1,523 1,378 10.5% 1322 15.2% 6,101 5,912 3.2%
Days on Market 32 39 -17.9% 25 28.0% 44 46 -4.3%
Price per Square Foot $109 $102 6.9% $102 6.9% $102 $96 6.3%
% of Ask Received 98.4% 97.8% 0.6% 98.8% -0.4% 97.3% 97.8% -0.5%
Active Inventory 1,787 1,639 9.0% 1583 12.9%
Absorption Rate 1.4 1.4 0.0% 1.3 7.7%
May 2019 Apr 2019 MOM May 2018 YOY 2019 2018 YTD
$100,000
$120,000
$140,000
$160,000
$180,000
Median Sales Price
0
200
400
600
800
1000
1200
1400
1600
May2016
Jul2016
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Jan2017
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Number of Closed Sales
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 18
Median Sales Price $132,800 $121,500 9.3% $114,000 16.5% $115,250 $114,000 1.1%
Closed Sales 47 49 -4.1% 46 2.2% 187 166 12.7%
New Listings 74 65 13.8% 92 -19.6% 251 263 -4.6%
Pending Sales 64 55 16.4% 62 3.2% 231 222 4.1%
Days on Market 35 51 -31.4% 32 9.4% 55 56 -1.8%
Price per Square Foot $93 $79 17.7% $80 16.3% $81 $77 5.2%
% of Ask Received 96.4% 97.6% -1.2% 96.0% 0.4% 96.6% 94.9% 1.8%
Active Inventory 83 79 5.1% 119 -30.3%
Absorption Rate 1.8 1.6 12.5% 2.6 -30.8%
2019 2018 YTDMay 2019 Apr 2019 MOM May 2018 YOY
$120,000 $140,000 $160,000 $180,000 $200,000 $220,000 $240,000 $260,000 $280,000 $300,000 $320,000
Median Sales Price
0
10
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Number of Closed Sales
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 19
Median Sales Price $184,900 $158,000 17.0% $159,900 15.6% $170,000 $158,000 7.6%
Closed Sales 105 92 14.1% 113 -7.1% 364 401 -9.2%
New Listings 136 128 6.3% 142 -4.2% 501 561 -10.7%
Pending Sales 114 116 -1.7% 91 25.3% 447 461 -3.0%
Days on Market 41 36 13.9% 18 127.8% 51 55 -7.3%
Price per Square Foot $114 $108 5.6% $107 6.5% $108 $100 8.0%
% of Ask Received 98.8% 97.0% 1.9% 98.8% 0.0% 98.0% 97.8% 0.2%
Active Inventory 188 181 3.9% 198 -5.1%
Absorption Rate 1.8 2.0 -10.0% 1.8 0.0%
May 2019 Apr 2019 MOM May 2018 YOY 2019 2018 YTD
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
Median Sales Price
0
20
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100
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140
May2016
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Number of Closed Sales
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 20
Median Sales Price $155,000 $146,900 5.5% $137,500 12.7% $153,000 $136,250 12.3%
Closed Sales 41 52 -21.2% 51 -19.6% 179 194 -7.7%
New Listings 45 48 -6.3% 77 -41.6% 215 283 -24.0%
Pending Sales 44 42 4.8% 58 -24.1% 202 252 -19.8%
Days on Market 54 42 28.6% 57 -5.3% 62 66 -6.1%
Price per Square Foot $113 $99 14.1% $92 22.8% $104 $89 16.9%
% of Ask Received 97.2% 98.1% -0.9% 98.7% -1.5% 97.1% 96.7% 0.4%
Active Inventory 77 77 0.0% 95 -18.9%
Absorption Rate 1.9 1.5 26.7% 1.9 0.0%
May 2019 Apr 2019 MOM May 2018 YOY 2019 2018 YTD
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
Median Sales Price
0
10
20
30
40
50
60
70
80
May2016
Jul2016
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Jan2018
Mar2018
May2018
Jul2018
Sep2018
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Number of Closed Sales
© 2019 North Leaf Solutions LLC as Domus Analytics, under license for MIBOR REALTORS® Association 21
Median Sales Price $125,000 $143,900 -13.1% $128,500 -2.7% $130,000 $127,500 2.0%
Closed Sales 55 53 3.8% 45 22.2% 205 195 5.1%
New Listings 72 69 4.3% 64 12.5% 265 251 5.6%
Pending Sales 67 54 24.1% 48 39.6% 250 226 10.6%
Days on Market 29 40 -27.5% 30 -3.3% 49 57 -14.0%
Price per Square Foot $89 $87 2.3% $84 6.0% $84 $83 1.2%
% of Ask Received 98.0% 97.2% 0.8% 97.0% 1.0% 96.3% 97.5% -1.2%
Active Inventory 78 70 11.4% 90 -13.3%
Absorption Rate 1.4 1.3 7.7% 2.0 -30.0%
May 2019 Apr 2019 MOM May 2018 YOY 2019 2018 YTD
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
Median Sales Price
0
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20
30
40
50
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80
May2016
Jul2016
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Jan2017
Mar2017
May2017
Jul2017
Sep2017
Nov2017
Jan2018
Mar2018
May2018
Jul2018
Sep2018
Nov2018
Jan2019
Mar2019
May2019
Number of Closed Sales