Sales were down 0.9% compared to last July but the median sold price was up 8.3% ($23,000) from last July. July foreclosure sales in Mercer declined considerably from 74 last month to 47 in July (11% of all sales).Inventory increased by 0.6% this month, and is 15.8% lower than a year ago. The Months Supply of Inventory stayed at 5.0 months compared to 6.2 months in July 2016.Sales in July were down 0.9% from last July but are up 9.2% YTD. Excluding all foreclosure sales, normal sales were down 1.8% from last July but are up 7.1% YTD. The Property Marketing Period was down from 34 days last year to 30 days this year.The median sold price this month was up 8.9% compared to last July but is down 2.0% YTD. Removing foreclosures, the median sales price of normal sales was $325,000, a 4.5% increase over July 2016.The sold price to original list price ratio typically in the range of 94-96% was at 97.3% in July and was 96.6% for 2016. In July the sold price to list price ratio was at 98.4% compared to 97.7 last year.For more information Mercer County Market TrendsCourtesy of: Trend MLS
