HOU ARCHIVED July 2016 | Page 15

Galveston Community Information | School District

Galveston Community Information | School District

Market Time
100
The average Days On Market ( DOM ) shows how many days the average Property is on the market before it sells . An upward
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trend in DOM tends to indicate a move towards more of a
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Buyer ' s market , a downward trend a move towards more of a
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Seller ' s market . The DOM for July was 51 , down 7.3 % from 55 days last month and down 8.9 % from 56 days in July of last year .
The July 2016 DOM was at its lowest level compared with July of
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2015 and 2014 .
40
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 2016 Selling Price per Square Foot of $ 119 was down 1.9 % from $ 121 last month and up 6.4 % from 112 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 2016 Selling Price vs Original List Price of 96.0 % was up from 95.9 % last month and up from 95.8 % in July of last year .
30 20 10 0
150 140 130 120 110 100 90 80 70 60 50
97 % 96 % 95 % 94 % 93 % 92 % 91 %
Days On Market for Sold Properties
71
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Selling Price per Square Foot
110 112
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Selling Price versus Listing Price Ratio Avg Selling Price divided by Avg Listing Price for sold properties during the month
94.9 %
56
95.8 %
3 Mo Avg
3 Mo Avg
3 Mo Avg
51
119
96.0 %
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 2016 was 787 , down 6.9 % from 845 last month and up 3.1 % from 763 in July of last year .
90 %
3,000 2,500 2,000 1,500 1,000
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2,586 2,611 2,549 2,438
2,312 2,197 2,207 2,217 2,224 2,173
Inventory / New Listings / Sales
2,137 2,160 2,107 2,024 1,911 1,820 1,682 1,695 1,732 1,712 1,759 1,868 1,901 1,911 1,885 1,819 1,771 1,672 1,549 1,612 1,618 1,710 1,739 1,737 1,853 1,839
500 0
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c o l d w e l l b a n k e r h o m e s . c o m | 15