Most of the data we typically analyze is month-over-month or seasonally adjusted, meaning we compare this month of this year to the same month last year. However, today, we have the year-to-date numbers, which encompass combined sales, total average pricing, and days on the market.
To put things in perspective, let's remember that last year, the market skyrocketed in the spring, peaked in May, and then gradually returned to more stable levels, reaching a low point in February. Now, we're seeing prices making a slow but steady recovery. When we examine the data, it becomes evident that while MSA prices are only 3% to 4% below where they were last September (as shown in the right chart), the year-to-date comparison, covering January to September of this year versus 2022, reveals that we are still down by 8.75% in terms of the average selling price and 10.25% for the median price (as depicted in the chart on the left).
On the flip side, the number of sales tells a slightly different story. Year-to-date, total sales are only down by 11.79% compared to 2022. However, for the month of September alone, there was a 24% decrease. These year-to-date figures provide valuable insights for assessing the overall picture of how 2023 is shaping up. We find it useful to offer this data at the end of each quarter to examine historical numbers from a year-to-date perspective and gain a better understanding of where we currently stand amidst the annual market fluctuations. It serves as a reliable baseline for overall market monitoring not just fluctuating trends..
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