The Median Sales Price in January was $175,000, up 8.4% from $161,500 in January of 2014 and down -2.8% from $180,000 last month. The Average Sales Price in January was $253,397, down -7.4% from $273,504 in January of 2014 and down -0.1% from $253,559 last month. January 2015 ASP was at a mid range compared to January of 2014 and 2013.
Inventory & MSI
The Total Inventory of Properties available for sale as of January was 3,308, down -6.4% from 3,533 last month and down -3.8% from 3,440 in January of last year. January 2015 Inventory was at the lowest level compared to January of 2014 and 2013.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The January 2015 MSI of 5.8 months was at its lowest level compared with January of 2014 and 2013
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 January was 74, up 10.4% from 67 days last month and up 5.7% from 70 days in January of last year. The January 2015 DOM was at a mid range compared with January of 2014 and 2013.