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 81 , up 8.0 % from 75 days last month and up 15.7 % from 70 days in February of last year . The February 2017 DOM was at a mid 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 $ 167 was down 6.5 % from $ 178 last month and up 5.7 % from 158 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 equal to 94.1 % last month and down from 94.2 % 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 1,077 , down 11.0 % from 1,210 last month and down 11.6 % from 1,219 in February of last year .

Days On Market for Sold Properties

200 190 180 170 160 150 140 130 120 110 100

96 % 96 % 95 % 95 % 94 % 94 % 93 % 93 % 92 % 92 % 91 % 91 %

4,000 3,500 3,000 2,500 2,000 1,500 1,000

500 0

150

Selling Price versus Listing Price Ratio

92.4 %

3,342 3,256 3,191 3,104 3,056 3,027

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

2,994 3,040 3,095 3,074 3,189 3,243 3,158

2,963 2,731 2,694 2,626 2,533 2,612 2,726 2,851 2,916

3,271

158

167

94.2 % 94.1 %

3,456 3,422 3,373 3,165 3,108 2,970 2,862 2,871

3,080

3 Mo Avg

3 Mo Avg

3,253

3,249 3,512 3,488 c o l d w e l l b a n k e r h o m e s . c o m | 49