When comparing the most recent 3 month period with the same period last year the median $/Sqft declined 7%. When comparing the most recent 3 month period with the previous 3 month period the median $/Sqft declined 0.7%. These statistics indicate that property values have declined over the past year, but that the rate of decline has decreased lately.When considering the number of sales over the past 30 days, there are currently 3.4 months of housing inventory, indicating a balanced demand/supply trend.The median marketing time for closed sales over the past 3 months was 56 days, indicating a marketing time trend of less than 3 months.The Sandicor MLS reports that 59% of all sales over the past 3 months were bank sales or short sales, which has been a steady ratio over the past year. Real estate agents do not reliably describe bank sales or short sales in the MLS and the actual ratios of these sales are likely higher.Brian Ward Appraisal
brian@brianward.com
www.brianward.com
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