Market Conditions for Hancock - November 2019 | Shorewest Realtors®
November 2019

Market Conditions for Hancock

Median Sale Price Graph

Median Sale Price

The median sale price for homes in November was $130,000. The median sales price for homes in November fell by ($145,000) compared to last month. This represents a 52.72% decrease from October. Compared to the same month last year, the median price of homes fell by ($22,500) representing a -14.75% year-over-year change.

Homes for Sale Graph

Homes for Sale

The inventory of homes for sale fell by 1 in November to 6. This represents 14.28% decrease from October when 7 homes were on the market. Compared to the same month last year when there were 9 homes for sale, the inventory of homes for sale has fallen by 3 representing a -33.33% 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 1 homes sold in November was the same as in October. Compared to the same month last year, the number of homes sold decreased by 1, a -50% 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 November (491) increased by 331 days compared to October. This represents a 206.87% 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 359, a 271.96% 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 83.87% in November fell by 2.7% compared to October and decreased 15.94% 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 November (1) remained level Compared to November 2018, the number of new listings remained level

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 November was $129,900. The median list price for homes in November rose by $99,900 compared to last month. This represents a 333% increase from October. Compared to the same month last year, the median list price of homes increased $20,000 representing a 18.19% year-over-year increase.