FACT: Based on the first 6 months of 2016, and the inventory at rate of sales, if no new homes came on the market, the time it would take to sell existing residential inventory in Bloomington Hills is about 2 months vs. 3-4 months for similar priced homes in the rest of Greater St George area.
FACT: The average cumulative days on the market for the first 6 months movement of 2016 is 89 days for Bloomington Hills vs. 85 days for the Greater St George area for similar priced homes! (The average time on the market for mid 2014 to mid 2015 for Bloomington Hills was 71 days on the market.)
FACT: In Bloomington Hills, the average sales price for the first half of 2016 calculates to about $250,000.
FACT: In Bloomington Hills, for the last two years (July 1, 2014 to June 30, 2015), 192 properties have sold- an average of 8 homes a month. Nearly all the homes listed have been eventually selling, even if they have had to do a price reduction or two.
FACT: In Bloomington Hills, for the last 6 months of 2016, 46 properties have sold- an average of 7.7 homes sold per month.
Inventory Levels Exception for Greater St George: OK, the average inventory levels for Bloomington Hills are about 2 months for the last two years. So, it is running about average. However, homes in the same price range for the rest of the Greater St George area have been averaging a 3-4 to 5 month supply of homes. The stats may be showing that there are fewer homes and maybe more demand for homes in Bloomington Hills than the rest of the areas that are selling at similar price points. There is an exception to this with the last two months of May and June of 2016, showing a more unusual 2-2.5 months supply in the Greater St George area. This may lead to homes in Bloomington Hills holding their values even further and inventory levels staying low in the short run, at least.