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 February was 116 , up 14.9 % from 101 days last month and down 13.4 % from 134 days in February of last year . The February 2017 DOM was at its lowest level compared with February 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 February 2017 Selling Price per Square Foot of $ 381 was up 4.1 % from $ 366 last month and up 0.7 % from 378 in February 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 February 2017 Selling Price vs Original List Price of 89.8 % was down from 91.0 % last month and down from 90.2 % in February of last year .

160 140 120 100 80 60 40 20

Days On Market for Sold Properties

137 134

440 420 400 380 360 340 320 300

98 % 96 % 94 % 92 % 90 %

349

Selling Price versus Listing Price Ratio

116

378 381

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

92.6 %

90.2 %

3 Mo Avg

3 Mo Avg

89.8 %

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 February 2017 was 126 , down 12.5 % from 144 last month and down 28.0 % from 175 in February of last year .

88 % 86 %

700 600 500 400 300 200 100

0

543 536 523 550 555 531 517 542 538

501 535 546 526 532 517 504 505 508 510

527 507 488

534 568 592 616 617 613 604 605 624 610 597 572 584 585 c o l d w e l l b a n k e r h o m e s . c o m | 109