The Meyers neighborhood had an interesting report as a result of low inventory. The median sales price went down, although per the below chart, not by much. Meanwhile, the average home sales went up 1%. The amount of Meyers homes for sale declined 60%, closed sales went down 8.8%, new listings went down 30.8% and pending sales went down 23.5%. Things going down are generally not things we like to report, however, this comes with the territory when your month supply is at a low 1.5. A balanced market needs 6 months and anything less than 4 is considered a seller’s market so if you have your eye on this area, act fast when something comes on the market.
|Meyers Market Comparison||2017||2016|
|Number of Sales||31||34|
|Median Home Price||$354,500||$355,000|
|Average Home Price||$384,360||$380,544|
|Average List to Sale Ratio||98%||97.3%|
|Average Dollar Per Square Foot||$287||$248|
|Median Days on the Market||88||97|