The following is the month end data for real estate activity in Arcadia for May 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||$487,000|
|Average List Price of all Current Listings||$738,296|
|May Median Sales Price||$975,000||$724,000|
|May Average Sales Price||$1,149,600||$816,868|
|Total Properties Currently for Sale (Inventory)||22|
|May Number of Properties Sold||5||34|
|May Average Days on Market (Solds)||54||50|
|Asking Price per Square Foot (based on New Listings)||$307||$369|
|May Sold Price per Square Foot||$433||$381|
|May Month’s Supply of Inventory||4.4||3.7|
|May Sale Price vs List Price Ratio||98.2%||97.8%|
|* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date|
May Property sales were 5, equal to 5 in May of 2011 and -37.5% lower than the 8 sales last month. May 2012 sales were at their lowest level compared to May of 2011 and 2010. May YTD sales of 34 are running 13.3% ahead of last year’s year-to-date sales of 30.
The Median Sales Price in May was $975,000, up 107.0% from $471,000 in May of 2011 and down -0.5% from $980,000 last month. The Average Sales Price in May was $1,149,600, down -15.8% from $1,366,100 in May of 2011 and up 0.4% from $1,145,000 last month. May 2012 ASP was at a mid range compared to May of 2011 and 2010.
The Total Inventory of Properties available for sale as of May was 22, up 15.8% from 19 last month and down -4.3% from 23 in May of last year. May 2012 Inventory was at the lowest level compared to May of 2011 and 2010.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The May 2012 MSI of 4.4 months was at a mid range compared with May 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 May was 54, down -28.0% from 75 days last month and down -1.8% from 55 days in May of last year. The May 2012 DOM was at a mid range compared with May 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 May 2012 Selling Price per Square Foot of $433 was up 12.5% from $385 last month and up 14.2% from $379 in May 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 May 2012 Selling Price vs Original List Price of 98.2% was up from 97.9% last month and up from 95.7% in May 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 May 2012 was 10, equal to 10 last month and down -9.1% from 11 in May of last year.