The Black Bart Neighborhood didn’t really show signs of slowing down during the second quarter. In fact, the median and average home prices continued to go up. The median sold price for Black Bart real estate is now $429,000 and the average is now $510,491. The closed sales did decrease slightly at 6.3% along with the pendings at 8.4%. New listings only went down by 1.2% which isn’t bad given that the month supply is 3.4. In order for the market to be considered balanced, we need a 6 month supply. So some of these decreases can simply be explained by low inventory. Another decrease that is actually good is days on market. The average has gone down by 10.5% while the median has gone down by 8.7%. This means that homes are getting and accepting offers quicker compared to last quarter, as well as this time last year.
|Black Bart Market Comparison||2017||2016|
|Number of Sales||7||9|
|Median Home Price||$365,000||$329,000|
|Average Home Price||$363,833||$335,657|
|Average List to Sale Ratio||96.0%||97.9%|
|Average Dollar Per Square Foot||$273||No Data Available|
|Days on the Market||108||63|