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 78 , up 2.6 % from 76 days last month and up 14.7 % from 68 days in July of last year . The July 2017 DOM was at a mid 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 $ 144 was down 1.3 % from $ 146 last month and up 9.7 % from 131 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 94.7 % was equal to 94.7 % last month and up from 94.6 % in July of last year .

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 608 , down 7.6 % from 658 last month and up 2.7 % from 592 in July of last year .

100 90 80 70 60 50 40 30 20 10 0

150 145 140 135 130 125 120 115 110 105 100

97 % 96 % 96 % 95 % 95 % 94 % 94 % 93 % 93 % 92 % 92 %

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

500

Days On Market for Sold Properties

75

124

Selling Price versus Listing Price Ratio

94.8 %

68

131

78

J

144

94.6 % 94.7 %

2,059

1,962 2,129 2,185 2,239

2,368

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

2,428 2,337

2,204

1,988 1,827 1,789 1,711 1,751 1,851 2,009 2,052

2,286 2,440 2,394 2,309 2,168 2,064 2,035 1,971 1,993 2,050 2,177 2,182 2,368 2,401 2,369

3 Mo Avg

3 Mo Avg

2,236 2,136 2,071

J

J

2,104

0

J

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