December Property sales were 23, up 35.3% from 17 in December of 2012 and 27.8% higher than the 18 sales in November. December 2013 sales were at their highest level compared to December of 2012 and 2011. December YTD sales of 323 are running 47.5% ahead of 2012's year-to-date sales of 219.
The Median Sales Price in December was $540,000, down -0.9% from $545,000 in December of 2012 and down -18.8% from $665,000 November. The Average Sales Price in December was $715,761, down -10.5% from $799,530 in December of 2012 and down -8.4% from $781,450 November. December 2013 ASP was at the lowest level compared to December of 2012 and 2011.
Inventory & MSI
The Total Inventory of Properties available for sale as of December was 54, down -22.9% from 70 in November and down -16.9% from 65 in December of last year. December 2013 Inventory was at the lowest level compared to December of 2012 and 2011.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2013 MSI of 2.3 months was at its lowest level compared with December of 2012 and 2011.
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 December was 59, down -6.3% from 63 days in November and down -22.4% from 76 days in December of last year. The December 2013 DOM was at its lowest level compared with December of 2012 and 2011
Selling Price vs. Listing Price
The Selling Price vs. Listing Price reveals the average amount that Sellers are agreeing to come down from their 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 December 2013 Selling Price vs. List Price of 97.6% was up from 97.1% in November and up from 96.2% in December 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 number of New Listings in December 2013 was 10, down -28.6% from 14 in November and down -28.6% from 14 in December of last year.
Want to know what sold in Chatham in 2013? Wondering how much that house you drive by all the time sold for? As your local Chatham REALTOR®, I’d be glad to help you determine what your home is worth & the best price to help you sell your home here in Chatham. Or if you simply have questions about the selling or renting process, please feel free to call me or email.
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