PROPERTY SALES
The number of properties sold in April 2022 was 95, down -4.04% from 99 from the previous month and -35.81% lower than 148 from April 2021. The April 2022 sales were at a mid level compared to April 2021 and 2020. Absorption rate is the avg number of sales per month divided by the total number of available properties.
PRICES
The median sales price in April 2022 was $1,410,000, equal to the previous month and 17.01% higher than $1,205,050 from
April 2021. The April 2022 median sales price was at its highest level compared to April 2021 and 2020. The average sales
price in April 2022 was $1,629,972, up 1.55% from $1,605,091 from the previous month and 18.39% higher than $1,376,804
from April 2021. The April 2022 average sale price was at its highest level compared to April 2021 and 2020.
INVENTORY & MSI
The number of properties for sale in April 2022 was 155, up 51.96% from 102 from the previous month and 1.31% higher than
153 from April 2021. The April 2022 inventory was at a mid level compared with April 2021 and 2020. A comparatively lower
MSI is more beneficial for sellers while a higher MSI is better for buyers. The April 2022 MSI of 1.63 months was at a mid level
compared with April 2021 and 2020.
MARKET TIME
The average days on market (DOM) is the number of days a property is on the market before it sells. An upward trend in DOM
tends to indicate a move towards a buyer’s market, a downward trend tends to indicate a move towards seller’s market. The
DOM for April 2022 was 27 days, up 22.73% from 22 days from the previous month and -3.57% lower than 28 days from April
2021. The April 2022 DOM was at its lowest level compared with April 2021 and 2020.
SELLING PRICE PER SQUARE FOOT
The average sales price per square foot is a more normalized indicator for the direction of property value. The sales price per
square foot in April 2022 was $781, up 4.69% from $746 from the previous month and 21.65% higher than $642 from April
2021.
SELLING PRICE VS LISTING PRICE
The sales price/list price ratio is the average sale price divided by the average list price for sold properties expressed as a
percentage. If it is above 100%, homes are selling for more than the list price. If it is less than 100%, homes are selling for less
than the list price. The April 2022 sales price/list price ratio was 105%, equal to the previous month and up from 101% from
April 2021.
INVENTORY / NEW LISTINGS / SALES
The number of properties for sale in April 2022 was 155, up 51.96% from 102 from the previous month and 1.31% higher than 153 from April 2021. The April 2022 inventory was at a mid level compared with April 2021 and 2020. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The April 2022 MSI of 1.63 months was at a mid level compared with April 2021 and 2020.
