savannah mls february2015 market trends
TRANSCRIPT
SAVANNAH MLS FEBRUARY 2015
MEDIAN SALES PRICE
SAVANNAH MLS
The Median Price for all homes sold in February was $188,500, which is 6% higher than the median price in January and 21% higher than the median price in February 2014.
FEBRUARY 2015
FEBRUARY 2015 $188,500
FEBRUARY 2014 $156,000
21%
$188,500
$100,000
$110,000
$120,000
$130,000
$140,000
$150,000
$160,000
$170,000
$180,000
$190,000
$200,000
CLOSED TRANSACTIONS
SAVANNAH MLS
The Market Trend Report for February showed an 18% decrease in the number of Closed Transactions over January and a 47% increase over sales in February 2014.
FEBRUARY 2015
399
271
47%
FEBRUARY 2015
FEBRUARY 2014
399
0
100
200
300
400
500
600
DAYS ON THE MARKET
SAVANNAH MLS
The average Days on the Market for all homes sold in February was 111. This is 24 days less than the average in January and 13 days less than the average in February 2014.
FEBRUARY 2015
111
124
10%
FEBRUARY 2015
FEBRUARY 2014
111
80
90
100
110
120
130
140
MONTHS SUPPLY OF
INVENTORY
SAVANNAH MLS
The number of Months Supply of Inventory at the end of February was 5.9 which is 13% lower than January and a 12% decrease from February 2014.
FEBRUARY 2015
5.9
6.7
12%
FEBRUARY 2015
FEBRUARY 2014
5.9
3.0
4.0
5.0
6.0
7.0
8.0
9.0
Description
The Market Trend Report is distributed each month on or about the 15th.
The Report is based on data provided by Terradatum from the local
Savannah Multiple Listing Service and is not annualized. While MLS and Terradatum data are believed to be accurate, it cannot be
guaranteed. MLS data is constantly being updated, making any analysis
a snapshot at a particular time. Data for prior periods is not being
recalculated for this report.
Definitions
Median Sales Price is the median price of all residential properties sold
during the month. Closed Transactions are the number of residential
transactions closed during the given month. Days on the Market is the
number of days that pass from the time a property is listed until the
property goes under contract for all residential properties sold during the
month. Months Supply of Inventory is the total number of residential
properties listed for sale at the end of the month (active inventory)
divided by the number of sales contracts signed (pended) during the
month).