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 January was 61 , up 10.9 % from 55 days last month and down 3.2 % from 63 days in January of last year . The January 2018 DOM was at its lowest level compared with January of 2017 and 2016 .

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 January 2018 Selling Price per Square Foot of $ 123 was up 0.7 % from $ 122 last month and up 17.4 % from 104 in January 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 January 2018 Selling Price vs Original List Price of 95.1 % was down from 95.6 % last month and down from 95.5 % in January 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 January 2018 was 599 , up 23.5 % from 485 last month and down 0.3 % from 601 in January of last year .

Days On Market for Sold Properties

150 140 130 120 110 100 90 80 70 60 50

98 % 97 % 96 % 95 % 94 % 93 % 92 % 91 % 90 % 89 % 88 %

2,500

2,000

1,500

1,000

500

88

Selling Price versus Listing Price Ratio

93.4 %

1,976 1,960 1,918 1,881 1,935 1,887

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

1,904 1,820 1,826 1,797 1,736 1,722

104

95.5 %

3 Mo Avg

3 Mo Avg

1,683 1,683 1,637 1,608 1,601 1,596 1,672 1,671 1,639 1,629 1,506 1,445 1,428 1,397 1,380 1,439 1,505 1,539 1,517 1,483 1,419 1,453 1,376 1,311

123

95.1 %

0

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