Market Time The average Days On Market ( DOM ) shows how many days the average Property is on the market before it sells . An upward trend in DOM tends to indicate a move towards more of a Buyer ' s market , a downward trend a move towards more of a Seller ' s market . The DOM for July was 120 , down 11.1 % from 135 days last month and down 9.1 % from 132 days in July of last year . The July 2017 DOM was at its lowest level compared with July of 2016 and 2015 .

Selling Price per Square Foot The Selling Price per Square Foot is a great indicator for the direction of Property values . Since Median Sales Price and Average Sales price can be impacted by the ' mix ' of high or low end Properties in the market , the selling price per square foot is a more normalized indicator on the direction of Property values . The July 2017 Selling Price per Square Foot of $ 297 was down 9.0 % from $ 326 last month and up 3.9 % from 286 in July of last year .

Selling Price vs Original Listings Price The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price . The lower the ratio is below 100 % the more of a Buyer ' s market exists , a ratio at or above 100 % indicates more of a Seller ' s market . The July 2017 Selling Price vs Original List Price of 95.1 % was down from 95.3 % last month and up from 94.0 % in July of last year .

200 180 160 140 120 100 80 60 40 20 0

340 320 300 280 260 240 220 200

96 % 95 % 94 % 93 % 92 %

Days On Market for Sold Properties

166

302

132

286

Selling Price versus Listing Price Ratio Avg Selling Price divided by Avg Listing Price for sold properties during the month

93.0 %

94.0 %

3 Mo Avg

3 Mo Avg

120

J

297

J

95.1 %

91 % 90 %

Inventory / New Listings / Sales This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales . The graph shows the basic annual seasonality of the market as well as the relationship between these items . The number of New Listings in July 2017 was 325 , down 13.8 % from 377 last month and down 4.7 % from 341 in July of last year .

89 %

3,000 2,500 2,000 1,500

2,498 2,454 2,391 2,349 2,197 2,218 2,232 2,245 2,231 2,203 2,161 2,200 2,175 2,181 2,123 2,070 2,015 2,011 2,052 2,094 2,114 2,178 2,172 2,133 2,126 2,110 2,101 2,087 2,005 1,937 1,941 1,998 1,992 1,981 1,917

J

1,857

1,000 500

0

J

214 | c o l d w e l l b a n k e r h o m e s . c o m