Hover your mouse over the Interactive Line & Bar Charts below to see more details.
Residential house prices are a function of supply and demand, and marketplace. The Market Action Index conditions can be characterized by analyzing those factors.
The Average Sales Price is the sum of the total sales dollar volume divided by the total number of units sold. The Median Sales Price is the Sales Price at which half of all sales are above and half are the sales are below. Sometimes the Median Sales Price is a better indication of the market than the Average Sales Price, especially when a few sales may distort the Average Sales Price. Example: Ten sales are in an area. One was for $1,000,000 and nine were for $250,000. The Average Sales Price would be $325,000 and the Median Sales Price would be $250,000.
Days on Market is a calculation based upon the number of days a property is for sale. Days on Market is calculated from the date when a property first comes on the market (list date) to the time it is taken off the market due to a sale (contract date) or off market condition (off market date). If a property changes between Active and other statuses during the life of the listing(s), the cumulative on market time is tracked.
This represents the average of the ratios for the gross sales price to the original list price for individual listings. The chart is grouped by property type.