Millbrook-Deatsville Market Statistics December 2012

Market Action Index

Residential house prices are a function of supply and demand, and marketplace. The Market Action Index conditions can be characterized by analyzing those factors.
Chart Millbrook Deatsville AL Real Estate Market Activity December 2012

Average Sales Price

The median home price is one of the most common measurements used to compare real estate prices in different markets, areas and periods. It is said to be less biased than the mean (average) price since it is not as heavily influenced by small number of very highly priced homes. Home prices are limited by various factors, such as the incomes of potential buyers, the cost and ability to construct new property to increase supply, and demand for rental units. Since eighty percent of all homes purchased are purchased with a mortgage, the ability to make payments, borrow money, and the cost of borrowing money are major influences limiting how far prices can rise before hitting resistance due to prices hitting levels where potential buyers are unable to qualify. In general the ratio in the US are home values at 2-4 times annual income levels.
Chart Millbrook Deatsville AL Average Home Sales Price December 2012

Average Days on Market

Days on the Market Property is a measurement in days of how long that a home has been listed for sale to the public on the MLS (Multiple Listing Service). The days on the market statistic is of interest when a person is valuing real estate for the purpose of comparison. More days on the market than average may indicate a listing that was overpriced. The other use for this statistic is allowing prospective home sellers an idea of how long it may take to sell a property.

Chart Millbrook Deatsville AL Home Sales Days on Market December 2012

Average Days on Market

Average Sell Price to List Price Ratio

The chart below represents the average actual sale price, versus the original listing asking price. The chart is grouped by property type.
Chart Millbrook Deatsville AL Home Sales Price to List Price Ratio December 2012