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 May was 31 , down 11.4 % from 35 days last month and down 24.4 % from 41 days in May of last year . The May 2017 DOM was at its lowest level compared with May 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 May 2017 Selling Price per Square Foot of $ 137 was up 1.3 % from $ 136 last month and up 5.5 % from 130 in May 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 May 2017 Selling Price vs Original List Price of 98.5 % was down from 98.6 % last month and up from 97.8 % in May of last year .

80 70 60 50 40 30 20 10 0

150 145 140 135 130 125 120 115 110 105 100

99 % 98 % 97 % 96 % 95 % 94 % 93 %

Days On Market for Sold Properties

53

Selling Price per Square Foot

122

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

96.6 %

41

130

97.8 %

3 Mo Avg

3 Mo Avg

3 Mo Avg

31

137

98.5 %

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 May 2017 was 2,052 , up 3.0 % from 1,993 last month and down 13.6 % from 2,374 in May of last year .

92 %

7,000 6,000 5,000 4,000 3,000 2,000 1,000

5,741 5,658 5,513 5,319 5,131

4,758 4,231 4,061 4,092 4,335

Inventory / New Listings / Sales

4,469 4,549 4,522 4,658 4,509 4,410 4,284

3,865 3,401 3,356 3,229 3,442 3,610 3,769 3,853 3,889 3,792 3,749 3,532

3,149 2,652 2,457 2,414 2,603 2,682 2,699

0

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