Market Conditions for New Berlin

August 2017

Median Sale Price
$267,900

 UP 2.84%
vs. Month Ago
Homes for Sale
123

 DOWN -0.80%
vs. Month Ago
Homes Sold
51

 DOWN -17.74%
vs. Month Ago
Avg Days on Market
29

 DOWN -3.33%
vs. Month Ago

Median Sale Price

The median sale price for homes in August was $267,900. The median sales price for homes in August rose by $7,400 compared to last month. This represents a 2.84% increase from July. Compared to the same month last year, the median price of homes rose by $7,900 representing a 3.03% year-over-year change.

The median sales price is the middle value of all sales occurring in the market during the past thirty days when you arrange these sales prices from lowest to highest. This is a better indicator than the average as the median does not change as much as a result of a few unusually low or high sales prices.

Homes for Sale

The inventory of homes for sale fell by 1 in August to 123. This represents 0.8% decrease from July when 124 homes were on the market. Compared to the same month last year when there were 135 homes for sale, the inventory of homes for sale has fallen by 12 representing a -8.88% year-over-year change.

Homes for sale represents the number of active listings on the market during the specified month as reported in the MLS system operating within the market area.

Homes Sold

The inventory of homes for sale fell by 1 in August to 123. This represents 0.8% decrease from July when 124 homes were on the market. Compared to the same month last year when there were 135 homes for sale, the inventory of homes for sale has fallen by 12 representing a -8.88% year-over-year change.

Homes for sale represents the number of active listings on the market during the specified month as reported in the MLS system operating within the market area.

Avg Days on Market

The average days on market for a home sold in August (29) decreased by 1 days compared to July. This represents a 3.33% decrease in days on market for homes in the market from the previous month. Compared to the same month last year, the days on market for homes sold decreased by 7, a -19.44% year-over-year change.

Average Days on Market is the time period between the date when a home is listed for sale in an MLS system and the date it is sold.

Sale/List Price Ratio

The Sale/List Price Ratio of 99.18% in August rose by 0.79% compared to July and increased 1.08% compared to the same period last year.

Sale/List Price Ratio is the sale price of a listing divided by the original list price expressed as a percentage. The Sale/List Price Ratio for the market is determined by adding the Sale/List Price Ratio for each listing sold in the market during the month and dividing by the number of listings sold during the month.

New Homes

The number of homes listed in August (63) fell by 2 compared to July, a 3.07% change. Compared to August 2016, the number of new listings decreased by 11, a -14.86% year-over-year change.

Newly Listed Homes are the total count of homes that have been listed within the market area during the most recent month, as reported in the MLS system(s) operating in the market area.

Median List Price Homes

The median list price in August was $274,900. The median list price for homes in August rose by $33,000 compared to last month. This represents a 13.64% increase from July. Compared to the same month last year, the median list price of homes increased $2,700 representing a 0.99% year-over-year increase.

The median list price is the middle value of all currently active listings as reported in the MLS systems in the market area when you arrange these list prices from lowest to highest. This is a better indicator than the average as the median does not change as much as a result of the existence of a few unusually low or high list prices.