Market Trends: Mercer County, June 2018

Sales were down 10.6% compared to last June while the median sold price was up 12.5%. There were 44 foreclosure sales in Mercer this month, down from 75 in June 2017. Foreclosure sales were just 9% of all sales in June.

Inventory increased by 6.4% this month, and is just 1.8% lower than a year ago. The Months Supply of Inventory increased to 5.0 months compared to 4.8 months in June 2017.

Sales in June were down 10.6% from last June and are down 6.0% year-to-date. Excluding all foreclosure sales, normal sales were down 4.3% from last June and are down 4.0% year-to-date. The Property Marketing Period was down from 25 days last year to 22 days this year.

The median sold price this month was up 12.5% compared to last June and is up 2.2% year-to-date. Removing foreclosures, the median sales price of normal sales was $302,500, a 6.7% increase from June 2017.

The sold price to original list price ratio typically in the range of 94-96% was at 97.2% in June and was 97.4% for June 2017. In June the sold price to list price ratio was at 98.1% down from 98.3% last June.