These graphs will illustrate the Beacon Hill Real Estate market highlighting 6 different reports:
- Median & Average Sales Price
- Number of New Listings
- How Many Homes Are For Sale
- Pending Sales
- Closed Sales
- And Percentage of Listing Price to Sales Price
There are also reports on price per square footage and dollar volume however those I’ve elected to forgo simply due to their relevance or lack there of to the more vital information that my clients really want!
Sales Price (Average)
As you can see, in January of 2016, the average house price in the Beacon Hill Real Estate Market was at $461,420. In the year over year graph below, the current average sales price (at the time of this post) has risen an amazing 12.8% to $520,437.
Sales Price (Median)
The true definition of the difference between Average and Median is simply the average, is defined as the sum of the numbers divided by how many there are. IF the data is perfectly symmetric the mean tells you the point of symmetry, and in this case it is true that 50% of the data is smaller and 50% (very close in each case, if not exactly the case) is larger.
The median (informally referred to as the “halfway point”) is the number that will, approximately, divide the data in half. Its calculation is a counting process: arrange the data into increasing order, then locate the spot that is “halfway” from the smallest to the largest.
As you can see below, since January 2016, the median sales price in the Beacon Hill Real Estate market was $445,000. and the year over year information now has it currently at $511,150. which is an increase of 14.9%!
The new listing graph is used to illustrate mainly the year over year cycle. In January of 2016 there were 387 new listings compared to just 433 which indicates a fairly good increase of 11.9%.
Homes For Sale
This graph is indicative of why we remain on a Sellers Market. The number of homes for sale per month has not changed…zippo, zero…nada!!! We started the year at 34 homes for sale in January of 2016 and at the time of this post…we are at 34!
The pending sales numbers are a good sign as seen in this graph. In January of 2016, the pending sales were at 338 and currently are at 381 increasing 12.7% year over year.
As you can well imagine, closed sales will closely reflect pending sales in a market as hot as this. In January of 2016, 330 homes closed and that number saw a steady increase after a July low of 363 finishing off at its current number of 368 which is a good increase of 11.5%!