market update
EARLYSVILLE
1 $ 1,149,995 5,000 2.5 - 5.0 acres 4.0 5.0 4 15 3 0 95 Most expensive 25% of homes
2 $ 675,000 3,800 2.5 - 5.0 acres 4.0 4.0 7 16 3 0 127 Upper-middle 25% of homes
3 $ 572,000 2,876 2.5 - 5.0 acres 4.0 3.5 10 16 3 0 116 Lower-middle 25% of homes
4 $ 319,500 2,024 1.0 - 2.5 acres 3.0 3.0 25 16 2 0 88 Least expensive 25% of homes
PRICE
While this week the median didn't
fluctuate much, we are relatively close
to the market's price high-point. A
persistent drop of the Market Action
Index into the Buyer's zone will be a
leading indicator of the price strength
subsiding.
QUARTILE PRICES
Often, we find insights by watching
pricing trends within the quartile
segments.
Not surprisingly, given the condition of
the overall market, all quartiles have
shown price strength in recent weeks.
All have been increasing in price lately.
INVENTORY
Inventory has been climbing lately.
Note that rising inventory alone does
not signal a weakening market. Look to
the Market Action Index and Days on
Market trends to gauge whether buyer
interest is keeping up with available
supply.
Residential house prices are a function of supply and demand, and market conditions can be MARKET ACTION INDEX
characterized by analyzing those factors. Watch this index for sustained changes: if the index
falls into the Buyer’s Market zone for a long period, prices are likely in for a downward The EARLYSVILLE market is currently
correction. quite strongly in the Buyer's Market
zone (below 30). The 90-day Market
Action Index stands at 13. With several
months of inventory available at the
current sales rate, buyers should find
ample choice.
The quartiles can help you answer the question, "How hot is the market for homes in my price
range?"