MA ARCHIVED December 2017 | Page 41

Worcester Community Information

Worcester Community Information

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 December was 93 , down 23.1 % from 121 days last month and down 38.8 % from 152 days in December of last year . The December 2017 DOM was at its lowest level compared with December 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 December 2017 Selling Price per Square Foot of $ 197 was up 1.5 % from $ 194 last month and down 0.6 % from 198 in December of last year .
Days On Market for Sold Properties
200
180
160
151
152
140
120
100
93
80
60
40
20
0
J
F M A M J
J
A
S O N D
J
F M A M J
J
A
S O N D
J
F M A M J
J
A
S O N D
15
16
17
Selling Price per Square Foot
3 Mo Avg
250 240 230 220 210 200 190 180 170 160 150
200 198 197
J
F M A M J
J
A
S O N D
J
F M A M J
J
A
S O N D
J
F M A M J
J
A
S O N D
15
16
17
Selling Price vs Original Listings Price
Selling Price versus Listing Price Ratio
3 Mo Avg
The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their
100 %
Avg Selling Price divided by Avg Listing Price for sold properties during the month
original list price . The lower the ratio is below 100 % the more of
98 %
a Buyer ' s market exists , a ratio at or above 100 % indicates more of a Seller ' s market . The December 2017 Selling Price vs Original
List Price of 94.7 % was up from 93.0 % last month and up from
91.6 % in December of last year .
96 %
94 %
92 %
91.8 %
91.6 %
94.7 %
90 %
88 %
86 %
84 %
82 %
J
F M A M J
J
A S O N D
J
F M A M J
J
A S O N D
J
F M A M J
J
A S O N D
15
16
17
Inventory / New Listings / Sales
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 December 2017 was 136 , down 31.7 % from 199 last month and up 7.1 % from 127 in December of last year .
1,800
1,600
1,400
1,200
1,000
800
600
400
200
0
J
F M A M J
J
A S O N D
J
F M A M J
J
A S O N D
J
F M A M J
J
A S O N D
15
16
17
1,445 1,488 1,526 1,594 1,608 1,595 1,590 1,561 1,516 1,502
1,395 1,313 1,289 1,375 1,439 1,442 1,413 1,384 1,365 1,352 1,328 1,321 1,251 1,154 1,158 1,144
3 Mo Avg
1,165 1,165 1,169 1,102 1,098 1,070 1,062 997 981 939 c o l d w e l l b a n k e r h o m e s . c o m | 41