Market Trends: Mercer County, April 2018

Sales were up 5.3% compared to last April while the median sold price was down 5.1% from last April. There were 55 foreclosure sales in Mercer this month, the same as April 2017. Foreclosure sales were 17% of all sales in April.

Inventory increased by 9.9% this month, and is 8.7% lower than a year ago. The Months Supply of Inventory increased to 4.4 months compared to 4.7 months in April 2017.

Sales in April were up 5.3% from last April but are down 9.0% year-to-date. Excluding all foreclosure sales, normal sales were up 6% from last April but are down 6.9% year-to-date. The Property Marketing Period was down from 42 days last year to 34 days this year.

The median sold price this month was down 5.1% compared to last April but is up 0.2% year-to-date. Removing foreclosures, the median sales price of normal sales was $255,900, a 6.9% decrease from April 2017.

The sold price to original list price ratio typically in the range of 94-96% was at 96.7% in April and was 95.9% for April 2017. In April the sold price to list price ratio was at 98.2% up from 97.7% last April.

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