Vernor Property Sales Overview
The median property value in Vernor for December is $542,364.
Houses have increased by 1.44% for the month and decreased 0% for the year.
Rental demand is up with yields decreasing in February to 4.73%, from 4.78% in January.
The number of properties sold this quarter is down on last quarter from 1 to 0. This is down on the 5 year quarterly average of 5 indicating weaker demand.
What's the median House price in Vernor in December 2021?
The median property value for houses in Vernor is $542,364.
This is an increase of 1.44% ($534,639) from last month.
How much does it cost to rent a House in Vernor?
Rent prices in Vernor are the highest they've been in 12 months at $391.
This is up 11.08% from a 12 month low of $352 in January 2021 and a 2.36% up from last month.
What's the current rental yield in Vernor?
Rental yields for houses in Vernor is 4.73%.
This is up from a 12 month low of 4.71% in October 2021 and down from a 12 month high of 5% in December 2020.
How many properties sold in Vernor in February?
Total sales volume in Vernor is 0, which is down from 1 in the previous quarter.
This is the same as the weakest quarter in the last 5 years which was Q1 2021 with 0 sales and -100.00% weaker than the strongest quarter in the past 5 years which saw 3 sales in Q2 2021.
How long did it take to sell a property in Vernor in February?
12 days is the average time on market in Vernor in December, which is down from 13 in November and has been trending down since December 2020.
This can indicate a buyers market where sellers are finding it harder to make a sale.
Are properties selling below or above the listing price in Vernor?
December sees the vendor expectation error for Vernor at 3.2% which means, on average, places sold for 3.2% more than the listing price.
This is handy to know as a buyer to set your expectation and to give you a more realistic view of what you might expect properties to sell for on auction day.
It’s worth noting that in a hot market you might want to set your price expectations even higher than the 3.2% as things can move pretty quickly.