|Average List Price||$479,333||$495,409||down||up|
|Median List Price||$289,700||$299,900||same||up|
|Average Sales Price||$314,952||$355,828||up||up|
|Median Sales Price||$238,625||$266,500||up||up|
|Number of Properties Sold||1,217||298||down||down|
|Average Days on the Market||61||61||up||up|
|Average Sales Price per Square Foot||$182||$201||up||up|
|Month's Supply of Inventory||4||4||up||up|
The median sales price in April 2023 was $266,500, up 4.51% from $255,000 from the previous month and 12.23% higher than $237,450 from April 2022. The April 2023 median sales price was at its highest level compared to April 2022 and 2021. The average sales price in April 2023 was $355,828, up 10.56% from $321,843 from the previous month and 21.02% higher than $294,030 from April 2022. The April 2023 average sale price was at its highest level compared to April 2022 and 2021.
The sales price/list price ratio is the average sale price divided by the average list price for sold properties expressed as a percentage. If it is above 100%, homes are selling for more than the list price. If it is less than 100%, homes are selling for less than the list price.The April 2023 sales price/list price ratio was 98.25%, equal to the previous month and down from 101.02% from April 2022.
The number of properties sold in April 2023 was 298, down -24.37% from 394 from the previous month and -21.58% lower than 380 from April 2022. The April 2023 sales were at its lowest level compared to April 2022 and 2021. Absorption rate is the avg number of sales per month divided by the total number of available properties.
The average days on market (DOM) is the number of days a property is on the market before it sells. An upward trend in DOM tends to indicate a move towards a buyer's market, a downward trend tends to indicate a move towards seller's market. The DOM for April 2023 was 61 days, up 3.39% from 59 days from the previous month and 29.79% higher than 47 days from April 2022. The April 2023 DOM was at a mid level compared with April 2022 and 2021.