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 111 , up 27.6 % from 87 days last month and down 2.6 % from 114 days in May of last year . The May 2016 DOM was at its lowest level compared with May of 2015 and 2014 .

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 2016 Selling Price per Square Foot of $ 116 was up 6.3 % from $ 109 last month and up 10.5 % from 105 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 2016 Selling Price vs Original List Price of 92.1 % was down from 93.4 % last month and up from 91.3 % in May 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 May 2016 was 129 , down 5.8 % from 137 last month and down 2.3 % from 132 in May of last year .

200 180 160 140 120 100 80 60 40 20 0

150 140 130 120 110 100 90 80 70 60 50

96 % 94 % 92 % 90 % 88 % 86 % 84 % 82 % 80 % 78 %

700 600 500 400 300 200

Days On Market for Sold Properties

125

75

Selling Price versus Listing Price Ratio

114 111

90.2 %

640 658 651 631 611

549

482

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

533 546

575

602 651 662

603

543 489

438

394

328 349

383 432 452

105

91.3 %

494 485 467 498 482 484 458 458

488

3 Mo Avg

3 Mo Avg

550

116

92.1 %

613 636 656

100 0

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