Faraday Real Estate Statistics

Faraday Real Estate Price Trend
Faraday real estate average sold price in the last 30 days (November 2 - December 1) was $370,000, which is $248,000 (67.0 %) lower than the average price of $618,000 in the previous 30 day period (October 3 - November 1), and $615,000 (166.2 %) down from the same period 1 year ago ($985,000). Faraday real estate prices over the last 30 days are also $181,790 (49.1 %) lower than the average selling price of $551,790 over the past year.
Faraday average sold price for homes was $370,000 in the last 30 days (November 2 - December 1), which is $248,000 (67.0 %) down from the average home price of $618,000 in the previous 30 day period (October 3 - November 1), and $615,000 (166.2 %) lower than the same period 1 year ago ($985,000). In the last 30 days Faraday the average home price was $181,790 (49.1 %) lower than the average selling price of $551,790 over the last 12 months.
Sold Price Above/Below Asking ($)
Average selling price for Faraday real estate was $370,000 in the last 30 days (November 2 - December 1), which is collectively $19,000 (1.7 %) lower than the average asking price of $1,149,499. This represents a decline of $12,000 (171.4 %) compared to $7,000 (1.8 %) Sold-Under-Asking price from the previous 30 day period (October 3 - November 1).
The maximum Sold Over/Under Asking ratio in Faraday during the last 12 months was recorded in March, 2022 with an average of $320,888 over the asking price, while the minimum occurring in June, 2022 with $79,950 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 50.0 % with 1 properties sold and 1 new properties listed in the past 30 days (November 2 - December 1). This represents a decrease from 200.0 % recorded during the previous 30 day period (October 3 - November 1), and a decrease from compared to the same period one year ago.
Over the the last year the highest SNLR in Faraday was 200.0 % recorded in June and the lowest was in December 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 (November 2 - December 1) was 18 days, which is 95 days less than 113 days average in the previous 30 day period (October 3 - November 1) and 66 days shorter than during the same period a year ago (84 days).
There were 0 delisted properties in Faraday, those that got either Expired, Suspended or Terminated over the last 30 days (November 2 - December 1) with an average of 0 days on the market. This is 0 days longer than the average of 0 days during the previous 30 day period (October 3 - November 1) and 81 days less compared to the same period last year average of 81 days on the market.
0 Faraday properties that didn't sell stayed on the market 100.0 % longer than 1 that sucessfully sold over the last 30 days - 18 days when sold vs 0 days when delisted respectively.
Average Days on the Market in Faraday over the past 12 months for properties that have sold was 22.2 days, with 56.8 days for those properties that did not sell.
New Real Estate Listings vs Sold/Delisted
2 new properties were listed on the market in Faraday in the last 30 days (November 2 - December 1). During the same time 1 properties were sold and 0 listings were removed from the market (Expired, Suspended or Terminated), which represents an increase in total inventory by 1 properties (or 50.0 %).
During the previous 30 day period (October 3 - November 1) there were 1 new properties listed, 2 sold and 0 properties that did not sell and were removed from the market.
Over the past year the busiest month for new listings was April with 3 new properties listed, the slowest - December 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 (November 2 - December 1), which is 100.0 % of all properties sold in Faraday. This is a 50.0 % decline compared with a previous 30 day period (October 3 - November 1) and 0.0 % down from the same period a year ago. Over the past year an average of 1 homes are were sold per month.
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