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 87 , down 3.3 % from 90 days last month and down 2.2 % from 89 days in February of last year . The February 2017 DOM was at its lowest level compared with February of 2016 and 2015 .

120

100

80

60

40

20

Days On Market for Sold Properties

3 Mo Avg

90 89 87

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 $ 94 was up 1.9 % from $ 92 last month and up 13.0 % from 83 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 94.1 % was up from 93.7 % last month and up from 92.2 % in February 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 February 2017 was 422 , up 7.4 % from 393 last month and up 6.3 % from 397 in February of last year .

100 95 90 85 80 75 70 65 60 55 50

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

74

Selling Price versus Listing Price Ratio

91.8 %

2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200

0

1,795 1,829 1,863 1,874 1,897 1,903

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

1,819 1,825 1,795 1,748 1,775 1,806 1,804 1,760 1,758 1,787 1,748 1,714 1,641 1,602 1,614 1,530 1,486

83

92.2 %

1,406 1,422 1,411 1,396 1,402 1,414 1,379 1,358 1,294

3 Mo Avg

1,308 1,209 1,146

94

94.1 %

1,127

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