Detatched
Summary In MRIS, the median sold price for Detached properties for December was $330,000, representing an increase of 4.1% compared to last month and a decrease of 1.3% from Dec 2013. The average days on market for units sold in December was 95 days, 4% below the 5-year December average of 99 days. There was a 16.8% month over month decrease in new contract activity with 4,787 New Pendings; a 19% MoM decrease in All Pendings (new contracts + contracts carried over from November) to 8,962; and an 11.5% decrease in supply to 27,078 active units. This activity resulted in a Contract Ratio of 0.33 pendings per active listing, down from 0.36 in November and a decrease from 0.36 in December 2013. The Contract Ratio is 5% lower than the 5-year December average of 0.35. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.
Attached
Summary In MRIS, the median sold price for Attached properties for December was $265,000, representing an increase of 3.2% compared to last month and an increase of 3.1% from Dec 2013. The average days on market for units sold in December was 62 days, 8% below the 5-year December average of 67 days. There was a 13.9% month over month decrease in new contract activity with 3,569 New Pendings; a 17.5% MoM decrease in All Pendings (new contracts + contracts carried over from November) to 6,279; and an 11.9% decrease in supply to 11,696 active units. This activity resulted in a Contract Ratio of 0.54 pendings per active listing, down from 0.57 in November and a decrease from 0.65 in December 2013. The Contract Ratio is 9% lower than the 5-year December average of 0.59. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.
Attached Townhouse
Summary In MRIS, the median sold price for Attached/Townhouse properties for December was $265,000, representing an increase of 3.3% compared to last month and an increase of 1.9% from Dec 2013. The average days on market for units sold in December was 62 days, 7% below the 5-year December average of 67 days. There was an 11.3% month over month decrease in new contract activity with 2,362 New Pendings; a 16.6% MoM decrease in All Pendings (new contracts + contracts carried over from November) to 4,269; and an 11.9% decrease in supply to 7,658 active units. This activity resulted in a Contract Ratio of 0.56 pendings per active listing, down from 0.59 in November and a decrease from 0.66 in December 2013. The Contract Ratio is 5% lower than the 5-year December average of 0.59. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.
Condo & Co-op
Summary In MRIS, the median sold price for Condo & Coop properties for December was $265,000, representing an increase of 3.1% compared to last month and an increase of 6% from Dec 2013. The average days on market for units sold in December was 61 days, 9% below the 5-year December average of 67 days. There was an 18.6% month over month decrease in new contract activity with 1,207 New Pendings; a 19.4% MoM decrease in All Pendings (new contracts + contracts carried over from November) to 2,010; and an 11.9% decrease in supply to 4,038 active units. This activity resulted in a Contract Ratio of 0.50 pendings per active listing, down from 0.54 in November and a decrease from 0.63 in December 2013. The Contract Ratio is 15% lower than the 5-year December average of 0.59. A higher Contract Ratio signifies a relative increase in contract activity compared to supply, and indicates the market is moving in the seller’s favor. A lower Contract Ratio signifies a relative decrease in contract activity compared to supply, and indicates the market is moving in the buyer’s favor.