Faraday Real Estate Statistics

Faraday Real Estate Price Trend
Faraday real estate average sold price in the last 30 days (February 28 - March 28) was $315,000, which is $175,000 (55.6%) lower than the average price of $490,000 in the previous 30 day period (January 29 - February 27), and $425,000 (134.9%) down from the same period 1 year ago ($740,000). Faraday real estate prices over the last 30 days are also $155,705 (49.4%) lower than the average selling price of $470,705 over the past year.
Faraday average sold price for homes was $315,000 in the last 30 days (February 28 - March 28), which is $175,000 (55.6%) down from the average home price of $490,000 in the previous 30 day period (January 29 - February 27), and $425,000 (134.9%) lower than the same period 1 year ago ($740,000). In the last 30 days Faraday the average home price was $155,705 (49.4%) lower than the average selling price of $470,705 over the last 12 months.
Sold Price Above/Below Asking ($)
Average selling price for Faraday real estate was $315,000 in the last 30 days (February 28 - March 28), which is collectively $14,900 (2.5%) lower than the average asking price of $604,225. This represents an increase of $25,000 (62.7%) compared to $39,900 (3,990,000.0%) Sold-Under-Asking price from the previous 30 day period (January 29 - February 27).
The maximum Sold Over/Under Asking ratio in Faraday during the last 12 months was recorded in October, 2023 with an average of $7,000 over the asking price, while the minimum occurring in January, 2024 with $150,000 below the asking price.
Sales to New Listings Ratio
Sales to New Listings Ratio (SNLR) represents the number of sales in relation to new inventory listed over a period of time. SNLR for all property types in Faraday was 25.0% with 1 properties sold and 0 new properties listed in the past 30 days (February 28 - March 28). This represents a decrease from recorded during the previous 30 day period (January 29 - February 27), and a decrease from compared to the same period one year ago.
Over the the last year the highest SNLR in Faraday was 17,350.0% recorded in July and the lowest was in April at 0.0%. SNLR of under 40% generally represents the Buyers' Market, while 60% and above - the Sellers' Market, with 40% to 60% range signaling a balanced market.
Average Days on Market when Sold vs Delisted
The Average Days on the Market (DOM) for 1 properties that were successfully sold in Faraday in the last 30 days (February 28 - March 28) was 35 days, which is 142 days less than 177 days average in the previous 30 day period (January 29 - February 27) and 18 days shorter than during the same period a year ago (53 days).
There were 1 delisted properties in Faraday, those that got either Expired, Suspended or Terminated over the last 30 days (February 28 - March 28) with an average of 60 days on the market. This is 56 days shorter than the average of 116 days during the previous 30 day period (January 29 - February 27) and 60 days more compared to the same period last year average of 0 days on the market.
1 Faraday properties that didn't sell stayed on the market 71.4% longer than 1 that sucessfully sold over the last 30 days - 35 days when sold vs 60 days when delisted respectively.
Average Days on the Market in Faraday over the past 12 months for properties that have sold was 42.9 days, with 85.7 days for those properties that did not sell.
New Real Estate Listings vs Sold/Delisted
4 new properties were listed on the market in Faraday in the last 30 days (February 28 - March 28). During the same time 1 properties were sold and 1 listings were removed from the market (Expired, Suspended or Terminated), which represents an increase in total inventory by 2 properties (or 50.0%).
During the previous 30 day period (January 29 - February 27) there were 0 new properties listed, 1 sold and 2 properties that did not sell and were removed from the market.
Over the past year the busiest month for new listings was May with 3 new properties listed, the slowest - April with 0 new listings and a yearly average of 1 new listings per month.
New Real Estate Listings by Property Type
Real Estate Sales by Property Type
There were a total of 1 homes sold during the last 30 days (February 28 - March 28), which is 100.0% of all properties sold in Faraday. This is a 0.0% decline compared with a previous 30 day period (January 29 - February 27) and 50.0% down from the same period a year ago. Over the past year an average of 33 homes are were sold per month.
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