The following is the month end data for real estate activity in Arcadia for February 2012. For any questions, please feel free to contact me through my main website, or click here to browse Arcadia homes for sale.
|Market Profile & Trends Overview||Month||LM||L3M||PYM||LY||YTD||PriorYTD||PriorYear|
|Median List Price of all Current Listings||$739,000|
|Average List Price of all Current Listings||$1,086,460|
|February Median Sales Price||$603,000||$603,000|
|February Average Sales Price||$619,500||$653,136|
|Total Properties Currently for Sale (Inventory)||20|
|February Number of Properties Sold||7||11|
|February Average Days on Market (Solds)||24||27|
|Asking Price per Square Foot (based on New Listings)||$405||$396|
|February Sold Price per Square Foot||$375||$387|
|February Month’s Supply of Inventory||2.9||4.9|
|February Sale Price vs List Price Ratio||99.1%||97.8%|
|* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date|
February Property sales were 7, up 16.7% from 6 in February of 2011 and 75.0% higher than the 4 sales last month. February 2012 sales were at their highest level compared to February of 2011 and 2010. February YTD sales of 11 are running 37.5% ahead of last year’s year-to-date sales of 8.
The Median Sales Price in February was $603,000, up 33.1% from $453,000 in February of 2011 and down -4.6% from $632,000 last month. The Average Sales Price in February was $619,500, down -1.7% from $630,500 in February of 2011 and down -13.0% from $712,000 last month. February 2012 ASP was at a mid range compared to February of 2011 and 2010.
The Total Inventory of Properties available for sale as of February was 20, down -28.6% from 28 last month and equal to 20 in February of last year. February 2012 Inventory was at a mid range compared to February of 2011 and 2010.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The February 2012 MSI of 2.9 months was at its lowest level compared with February of 2011 and 2010.
The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for February was 24, down -25.0% from 32 days last month and down -51.0% from 49 days in February of last year. The February 2012 DOM was at a mid range compared with February of 2011 and 2010.
Selling Price per Square Foot
The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the ‘mix’ of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The February 2012 Selling Price per Square Foot of $375 was down -8.1% from $408 last month and up 5.9% from $354 in February of last year.
Selling Price vs Original Listing Price
The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. The February 2012 Selling Price vs Original List Price of 99.1% was up from 96.9% last month and up from 99.0% in February of last year.
Inventory / New Listings / Sales
This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in February 2012 was 9, down -25.0% from 12 last month and up 125.0% from 4 in February of last year.