Market Conditions for Verona - October 2019 | Shorewest Realtors®
October 2019

Market Conditions for Verona

Median Sale Price Graph

Median Sale Price

The median sale price for homes in October was $347,500. The median sales price for homes in October rose by $29,000 compared to last month. This represents a 9.1% increase from September. Compared to the same month last year, the median price of homes fell by ($1,342) representing a -0.38% year-over-year change.

Homes for Sale Graph

Homes for Sale

The inventory of homes for sale fell by 2 in October to 37. This represents 5.12% decrease from September when 39 homes were on the market. Compared to the same month last year when there were 8 homes for sale, the inventory of homes for sale has risen by 29 representing a 362.5% year-over-year change.

Homes for sale represents the number of active listings on the market during the specified month as reported in the MLS system operating within the market area.

Homes Sold Graph

Homes Sold

The 15 homes sold in October was 3 less than in September. This represents a 16.66% decrease in sales from September. Compared to the same month last year, the number of homes sold decreased by 2, a -11.76% year-over-year decrease.

Homes sold is the total count of properties in the market area that have had a closed sale during the specified month as reported in the MLS systems operating within the market area.

Average Days on Market Graph

Avg Days on Market

The average days on market for a home sold in October (35) increased by 17 days compared to September. This represents a 94.44% increase in days on market for homes in the market from the previous month. Compared to the same month last year, the days on market for homes sold increased by 6, a 20.68% year-over-year change.

Average Days on Market is the time period between the date when a home is listed for sale in an MLS system and the date it is sold.

Sale/List Price Ratio

Sale/List Price Ratio

The Sale/List Price Ratio of 97.52% in October fell by 0.57% compared to September and increased 1.18% compared to the same period last year.

Sale/List Price Ratio is the sale price of a listing divided by the original list price expressed as a percentage. The Sale/List Price Ratio for the market is determined by adding the Sale/List Price Ratio for each listing sold in the market during the month and dividing by the number of listings sold during the month.

New Homes Graph

New Homes

The number of homes listed in October (12) fell by 6 compared to September, a 33.33% change. Compared to October 2018, the number of new listings decreased by 6, a -33.33% year-over-year change.

Newly Listed Homes are the total count of homes that have been listed within the market area during the most recent month, as reported in the MLS system(s) operating in the market area.

Median List Price Graph

Median List Price

The median list price in October was $344,950. The median list price for homes in October fell by ($14,950) compared to last month. This represents a 4.15% decrease from September. Compared to the same month last year, the median list price of homes increased $71,000 representing a 25.91% year-over-year increase.