So How is the (local) Real Estate Market?

We addressed this subject in May and this will just be an update to that subject. In our local markets, school districts seems to be the best way to reflect the local markets.  These figures reflect only residential sales (not commercial or land sales).

Reviewing the Milton School District market, that encompasses municipalities of East and West Chillisquaque, Turbot and White Deer Townships and Milton Borough.  The year-to-date numbers are:

2011 (YTD) – Milton School District

  Total

Total List

Vol.

Median List

Price

DOM

Total Sold

Vol.

Median Sold

Price

Percent

(List to Sale Price)

Sold 54     82 $5,482,523 $107,000 90.28
Active 51 $8,347,600 $121,900 182      

 

2012 (YTD) – Milton School District

  Total

Total List

Vol.

Median List

Price

DOM

Total Sold

Vol.

Median Sold

Price

Percent

(List to Sale Price)

Sold 72     102 $10,138,984 $123,950 92.66
Active 57 $11,567,757 $147,500 224      

In summary, the number of listings currently on the market is up slightly over last year at this time.  The Days on the Market has increased significantly over last year and the average list price has increased, indicating that the higher priced homes are staying on the market much longer.

 

 

 

Reviewing the market statistics for the Warrior Run School District, which encompasses the municipalities of Anthony, Limestone, Delaware, Lewis and Gregg Townships, as well as Watsontown and Turbotville boroughs.  The year-to-date numbers are as follows:

2011 (YTD) – Warrior Run School District

  Total

Total List

Vol.

Median List

Price

DOM

Total Sold

Vol.

Median Sold

Price

Percent

(List to Sale Price)

Sold 27     100 $3,361,200 $123,000 93.70
Active 18 $4,414,600 $172,400 179      

 

2012 (YTD) – Warrior Run School District

  Total

Total List

Vol.

Median List

Price

DOM

Total Sold

Vol.

Median Sold

Price

Percent

(List to Sale Price)

Sold 34     99 $5,714,236 $137,000 88.44
Active 23 $4,482,600 $172,500 243      

Summarizing the above data:  there is no significant change in the listing data for this market since last year.  On the sales side, there is an increase in sales of approximately 26% and the volume has increased.  Sellers have had to reduce their prices more this year over last year to get their homes sold, which is reflected in the List to Sales price percentage.

 

 

 

Reviewing the market statistics for the Lewisburg School District, which encompasses the municipalities of East Buffalo, Union and Kelly Townships as well as Lewisburg borough.  The year-to-date numbers are as follows:

2011 (YTD) – Lewisburg School District

  Total

Total List

Vol.

Median List

Price

DOM

Total Sold

Vol.

Median Sold

Price

Percent

(List to Sale Price)

Sold 89     153 $20,851,203 $180,000 89.35
Active 73 $17,959,925 $225,000 159      

 

2012 (YTD) – Lewisburg School District

  Total

Total List

Vol.

Median List

Price

DOM

Total Sold

Vol.

Median Sold

Price

Percent

(List to Sale Price)

Sold 96     139 $20,923,600 $191,250 89.98
Active 105 $29,566,873 $225,000 178      

Indications are that there is a significant increase in the number of total properties on the market over last  year (over 45%) and the dollar volume has increased significantly as well, but the median price range of those listings has not changed;  there are just more homes on the market.  Surprisingly, there is a slight increase in the number of homes that have sold and the Days on Market to sell those homes has actually decreased slightly.

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