The following is the month end data for real estate activity in Arcadia for April 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||$785,820|
|Average List Price of all Current Listings||$1,012,724|
|April Median Sales Price||$980,000||$700,000|
|April Average Sales Price||$1,145,000||$759,500|
|Total Properties Currently for Sale (Inventory)||18|
|April Number of Properties Sold||8||29|
|April Average Days on Market (Solds)||75||49|
|Asking Price per Square Foot (based on New Listings)||$425||$394|
|April Sold Price per Square Foot||$385||$372|
|April Month’s Supply of Inventory||2.3||3.5|
|April Sale Price vs List Price Ratio||97.9%||97.9%|
|* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date|
April Property sales were 8, down -20.0% from 10 in April of 2011 and -20.0% lower than the 10 sales last month. April 2012 sales were at a mid level compared to April of 2011 and 2010. April YTD sales of 29 are running 16.0% ahead of last year’s year-to-date sales of 25.
The Median Sales Price in April was $980,000, up 98.0% from $495,000 in April of 2011 and up 96.0% from $500,000 last month. The Average Sales Price in April was $1,145,000, up 52.7% from $749,600 in April of 2011 and up 101.5% from $568,100 last month. April 2012 ASP was at highest level compared to April of 2011 and 2010.
The Total Inventory of Properties available for sale as of April was 18, down -5.3% from 19 last month and down -25.0% from 24 in April of last year. April 2012 Inventory was at the lowest level compared to April of 2011 and 2010.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The April 2012 MSI of 2.3 months was at its lowest level compared with April 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 April was 75, up 44.2% from 52 days last month and up 36.4% from 55 days in April of last year. The April 2012 DOM was at a mid range compared with April 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 April 2012 Selling Price per Square Foot of $385 was up 11.6% from $345 last month and up 9.1% from $353 in April 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 April 2012 Selling Price vs Original List Price of 97.9% was down from 98.5% last month and up from 97.5% in April 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 April 2012 was 11, equal to 11 last month and up 22.2% from 9 in April of last year.