The median sales price in North Wheaton has seen a steady increase over the past three years, with a spike in early 2015 that leveled out, but then continued to rise in 2016. By median sales price with each data point representing a rolling 12-month period, here’s what the market looks like as a whole:
Months of Inventory – this number tells us how many months it would take to sell out of the current inventory on the market. Typically having six months of inventory means the market is balanced and there is just enough inventory, and buyers for that inventory, to keep the market moving without favoring one side or the other. If that number goes above six, then with extra inventory on the market buyers can act with more confidence and be more choosy, so above six months of inventory means it’s a buyer’s market. If the months of inventory go below six, then it starts shifting over to a seller’s market because there are more than enough buyers, but not as many houses on the market.
Here’s what the inventory currently looks like for Wheaton:
This chart includes a breakdown of inventory by price range:
If you’d like to see the months of inventory for more specific markets, click on the links below for an interactive chart:
Wheaton inventory under $300,000
Wheaton inventory $300k – $399k
Wheaton inventory $400k – $499k
Wheaton inventory $500k – $750k
Wheaton inventory $750k – $1 mil
Wheaton inventory over $1 million
Another important number to look at when evaluating the market is market time. Market time is how many days a listing was on the market from the day it was listed, to the day it closes. This chart below is for the average days on market in Wheaton:
Here is the average days on market broken down by price range:
Wheaton market time under $300,000
Wheaton market time $300k – $399k
Wheaton market time $400k – $499k
Wheaton market time $500k – $750k
Wheaton market time $750k – $1 mil
Wheaton market time over $1 million
If you are looking for numbers that you don’t see here, don’t hesitate to contact me and I’d be happy to share any insights regarding your local market.
If you’d like to see what’s currently listed, here’s a link to new Wheaton listings.
Rockin' the Suburbs 