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 June was 70 , down 17.6 % from 85 days last month and down 20.5 % from 88 days in June of last year . The June 2017 DOM was at its lowest level compared with June 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 June 2017 Selling Price per Square Foot of $ 123 was up 2.7 % from $ 120 last month and up 12.2 % from 109 in June 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 June 2017 Selling Price vs Original List Price of 97.6 % was up from 97.5 % last month and up from 96.5 % in June 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 June 2017 was 481 , down 11.7 % from 545 last month and down 14.6 % from 563 in June of last year .

160 140 120 100 80 60 40 20

Days On Market for Sold Properties

103

150 140 130 120 110 100 90 80 70 60 50

99 % 98 % 97 % 96 % 95 % 94 % 93 % 92 % 91 % 90 % 89 %

2,500

2,000

1,500

1,000

500

103

Selling Price versus Listing Price Ratio

95.1 %

2,274 2,209 2,169 2,183 2,145 2,147

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

2,260 2,213 2,274 2,243 2,256 2,233 2,125 2,039 1,971 1,956 1,882 1,843 1,837 1,843 1,818

88

109

96.5 %

3 Mo Avg

3 Mo Avg

70

123

97.6 %

1,794 1,794 1,789 1,670 1,610 1,570 1,526 1,478 1,443 1,426 1,423 1,399 1,356 1,391 1,361

0

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