|MEDIAN SOLD PRICE||$127,250|
|AVERAGE SOLD PRICE||$166,244|
|MEDIAN % ORIGINAL LIST PRICE||94%|
|MEDIAN TIME TO CONTRACT||72 days|
|MEDIAN TIME TO SALE||117 days|
|NEW PENDING SALES||695|
|MONTHS SUPPLY OF INVENTORY||6.3 months|
I have changed the format of my market reports. Our MLS decided to change the vendor that supplies the software that runs our MLS search. The main difference is that I will no longer divide the sold homes into price ranges. I think there are new and interesting statistics here. The median time to contract shows how long it takes to get an offer accepted. The median time to sale minus the median time to contract shows how long it takes from the contract date to the closing. We now have new pending sales which are the homes that got under contract last month. We also have new listings which show how many new homes entered our market for sale over the past month. One statistic that needs explanation is % of original list price. That is the original list price and not the list price at the time the buyer made an offer. In some cases there could have been a price reduction made before attracting an offer.