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SCOTTSVILLE
Sunday February 28, 2010
Real-Time Market Profile Trend
Median List Price THIS WEEK
$ 210,950 The median single family home price
Asking Price per Square Foot $ 140 in SCOTTSVILLE this week is
Average Days on Market 172 $210,950.
Percent of Properties with Price Decrease 32 %
Percent Relisted (reset DOM) 15 %
Percent Flip (price increased) 4%
Median House Size (sq ft) 1,785
Median Lot Size 2.5 - 5.0 acres Inventory and days-on-market are both
Median Number of Bedrooms 3.0
trending higher recently. However, the
improving Market Action Index implies
Median Number of Bathrooms 2.0 some increased demand will temper the
Market Action Index* Cool. Buyer's Market 20 negative trends.
* see below for details on the Market Action Index
PRICE
Despite this week's down tic, the market
seems to have paused around this
plateau. The Market Action Index is a
good leading indicator for the
durability of this shift.
The Market Action Index answers the question "How's the Market?" By measuring the SUPPLY AND DEMAND
current rate of sale versus the amount of the inventory.
Local conditions are currently quite
strongly in the Buyer's Market zone
(below 30). The 90-day Market Action
Index stands at 20. With several months
of inventory available at the current
sales rate, buyers should find ample
choice.
Index above 30 implies Seller's Market conditions. Below 30, conditions favor the
buyer.
QUARTILES
Characteristics per Quartile Investigate the market in
Med. Med. Ab- Avg.
quartiles—where each quartile is 25%
Quart Median Price Sqft Med. Lot Size Bed Bath Age Inven. New sorbed DoM of the homes listed.
1 $ 799,000 3,500 20 + acres 4.0 4.0 11 17 1 1 229 Most expensive 25% of homes
2 $ 259,900 1,984 1.0 - 2.5 acres 3.0 2.0 10 17 0 14 212 Upper-middle 25% of homes
3 $ 199,900 1,510 1.0 - 2.5 acres 3.0 2.0 1 17 0 4 145 Lower-middle 25% of homes
4 $ 159,900 1,120 1.0 - 2.5 acres 3.0 2.0 18 17 1 1 105 Least expensive 25% of homes