The following is the month end data for real estate activity in Arcadia for March 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||$599,000|
|Average List Price of all Current Listings||$641,110|
|March Median Sales Price||$500,000||$560,000|
|March Average Sales Price||$568,100||$612,643|
|Total Properties Currently for Sale (Inventory)||19|
|March Number of Properties Sold||10||21|
|March Average Days on Market (Solds)||52||39|
|Asking Price per Square Foot (based on New Listings)||$372||$387|
|March Sold Price per Square Foot||$345||$367|
|March Month’s Supply of Inventory||1.9||3.9|
|March Sale Price vs List Price Ratio||98.5%||98.2%|
|* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date|
March Property sales were 10, up 42.9% from 7 in March of 2011 and 42.9% higher than the 7 sales last month. March 2012 sales were at their highest level compared to March of 2011 and 2010. March YTD sales of 21 are running 40.0% ahead of last year’s year-to-date sales of 15.
The Median Sales Price in March was $500,000, down -29.5% from $709,000 in March of 2011 and down -17.1% from $603,000 last month. The Average Sales Price in March was $568,100, down -26.2% from $769,786 in March of 2011 and down -8.3% from $619,500 last month. March 2012 ASP was at a mid range compared to March of 2011 and 2010.
The Total Inventory of Properties available for sale as of March was 19, equal to 19 last month and down -13.6% from 22 in March of last year. March 2012 Inventory was at the lowest level compared to March of 2011 and 2010.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The March 2012 MSI of 1.9 months was at its lowest level compared with March 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 March was 52, up 116.7% from 24 days last month and down -23.5% from 68 days in March of last year. The March 2012 DOM was at a mid range compared with March 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 March 2012 Selling Price per Square Foot of $345 was down -8.0% from $375 last month and down -2.0% from $352 in March 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 March 2012 Selling Price vs Original List Price of 98.5% was down from 99.1% last month and down from 98.8% in March 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 March 2012 was 11, up 22.2% from 9 last month and down -15.4% from 13 in March of last year.