Market Trends: Mercer County, September 2018

Sales were down 5.7% compared to last September while the median sold price was up 6.3%. There were 51 foreclosure sales in Mercer this month, down from 60 in September 2017. Foreclosure sales were 15% of all sales in September.

Inventory increased by 1.1% this month, and is just 9.5% lower than a year ago. The Months Supply of Inventory increased to 4.4 months compared to 4.7 months in September 2017.

Sales in September were down 5.7% from last September and are down 3.4% year-to-date. Excluding all foreclosure sales, normal sales were down 2.6% from last September and are down 2.2% year-to-date. The Property Marketing Period was down 37 days last year to 37 days this year.

The median sold price this month was up 6.3% compared to last September and is up 1.1% year-to-date. Removing foreclosures, the median sales price of normal sales was $258,500, a 1.6% increase from September 2017.

The sold price to original list price ratio typically in the range of 94-96% was at 95.6% in September and was 96.1% for September 2017. In September the sold price to list price ratio was at 98.7% down from 97.9% last September.