Faraday Real Estate Statistics

Faraday real estate average sold price in the last 30 days (March 27 - April 25) was $364,900, which is $37,600 (10.3%) lower than the average price of $402,500 in the previous 30 day period (February 26 - March 26), and $1,250,100 (342.6%) down from the same period 1 year ago ($1,615,000). Faraday real estate prices over the last 30 days are also $46,083 (12.6%) lower than the average selling price of $410,983 over the past year.

Faraday average sold price for homes was $364,900 in the last 30 days (March 27 - April 25), which is $37,600 (10.3%) down from the average home price of $402,500 in the previous 30 day period (February 26 - March 26), and $1,250,100 (342.6%) lower than the same period 1 year ago ($1,615,000). In the last 30 days Faraday the average home price was $46,083 (12.6%) lower than the average selling price of $410,983 over the last 12 months.

Average selling price for Faraday real estate was $364,900 in the last 30 days (March 27 - April 25), which is collectively $5,000 (1.0%) lower than the average asking price of $503,759. This represents an increase of $22,400 (81.8%) compared to $27,400 (4.7%) Sold-Under-Asking price from the previous 30 day period (February 26 - March 26).

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 (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 20.0% with 1 properties sold and 3 new properties listed in the past 30 days (March 27 - April 25). This represents a decrease from 66.7% recorded during the previous 30 day period (February 26 - March 26), 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 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.

The Average Days on the Market (DOM) for 1 properties that were successfully sold in Faraday in the last 30 days (March 27 - April 25) was 282 days, which is 176 days more than 106 days average in the previous 30 day period (February 26 - March 26) and 137 days longer than during the same period a year ago (145 days).

There were 6 delisted properties in Faraday, those that got either Expired, Suspended or Terminated over the last 30 days (March 27 - April 25) with an average of 116 days on the market. This is 19 days shorter than the average of 135 days during the previous 30 day period (February 26 - March 26) and 116 days more compared to the same period last year average of 0 days on the market.

6 Faraday properties that didn't sell stayed on the market 58.9% longer than 1 that sucessfully sold over the last 30 days - 282 days when sold vs 116 days when delisted respectively.

Average Days on the Market in Faraday over the past 12 months for properties that have sold was 38.8 days, with 90.7 days for those properties that did not sell.

5 new properties were listed on the market in Faraday in the last 30 days (March 27 - April 25). During the same time 1 properties were sold and 6 listings were removed from the market (Expired, Suspended or Terminated), which represents a decrease in total inventory by 2 properties (or 40.0%).

During the previous 30 day period (February 26 - March 26) there were 3 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 March with 4 new properties listed, the slowest - April with 0 new listings and a yearly average of 2 new listings per month.

There were a total of 5 homes listed during the last 30 days (March 27 - April 25), which is 100.0% of all properties listed in Faraday. This is a 66.7% increase compared with a previous 30 day period (February 26 - March 26) and 400.0% up from the same period a year ago. Over the past year an average of 2 homes are were listed per month.

There were a total of 1 homes sold during the last 30 days (March 27 - April 25), which is 100.0% of all properties sold in Faraday. This is a 50.0% decline compared with a previous 30 day period (February 26 - March 26) and 0.0% down from the same period a year ago. Over the past year an average of 33 homes are were sold per month.