Faraday Real Estate Statistics

Faraday real estate average sold price in the last 30 days (January 21 - February 19) was $470,000, which is $22,500 (4.8%) higher than the average price of $447,500 in the previous 30 day period (December 22 - January 20), and $430,000 (91.5%) down from the same period 1 year ago ($900,000). Faraday real estate prices over the last 30 days are also $85,477 (18.2%) lower than the average selling price of $555,477 over the past year.

Faraday average sold price for homes was $470,000 in the last 30 days (January 21 - February 19), which is $22,500 (4.8%) up from the average home price of $447,500 in the previous 30 day period (December 22 - January 20), and $430,000 (91.5%) lower than the same period 1 year ago ($900,000). In the last 30 days Faraday the average home price was $85,477 (18.2%) lower than the average selling price of $555,477 over the last 12 months.

Average selling price for Faraday real estate was $470,000 in the last 30 days (January 21 - February 19), which is collectively $29,900 (4.2%) lower than the average asking price of $704,950. This represents a decline of $8,400 (39.1%) compared to $21,500 (2,150,000.0%) Sold-Under-Asking price from the previous 30 day period (December 22 - January 20).

The maximum Sold Over/Under Asking ratio in Faraday during the last 12 months was recorded in August, 2024 with an average of $9,000 under the asking price, while the minimum occurring in September, 2024 with $39,000 below the asking price.

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 50.0% with 1 properties sold and 0 new properties listed in the past 30 days (January 21 - February 19). This represents a decrease from ∞ recorded during the previous 30 day period (December 22 - January 20), and a decrease from 100.0% compared to the same period one year ago.

Over the the last year the highest SNLR in Faraday was 300.0% recorded in January and the lowest was in September at 25.0%. 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.

The Average Days on the Market (DOM) for 1 properties that were successfully sold in Faraday in the last 30 days (January 21 - February 19) was 95 days, which is 36 days more than 59 days average in the previous 30 day period (December 22 - January 20) and 73 days longer than during the same period a year ago (22 days).

There were 2 delisted properties in Faraday, those that got either Expired, Suspended or Terminated over the last 30 days (January 21 - February 19) with an average of 104 days on the market. This is 28 days shorter than the average of 132 days during the previous 30 day period (December 22 - January 20) and 7 days more compared to the same period last year average of 97 days on the market.

2 Faraday properties that didn't sell stayed on the market 9.5% longer than 1 that sucessfully sold over the last 30 days - 95 days when sold vs 104 days when delisted respectively.

Average Days on the Market in Faraday over the past 12 months for properties that have sold was 68.6 days, with 76.8 days for those properties that did not sell.

2 new properties were listed on the market in Faraday in the last 30 days (January 21 - February 19). During the same time 1 properties were sold and 2 listings were removed from the market (Expired, Suspended or Terminated), which represents a decrease in total inventory by 1 properties (or 50.0%).

During the previous 30 day period (December 22 - January 20) there were 0 new properties listed, 2 sold and 1 properties that did not sell and were removed from the market.

Over the past year the busiest month for new listings was May with 7 new properties listed, the slowest - October with 1 new listings and a yearly average of 3 new listings per month.

There were a total of 1 homes sold during the last 30 days (January 21 - February 19), which is 100.0% of all properties sold in Faraday. This is a 50.0% decline compared with a previous 30 day period (December 22 - January 20) and 0.0% down from the same period a year ago. Over the past year an average of 3 homes are were sold per month.