DFW ARCHIVED May 2016 | Page 9

Cherokee Community Information | School District

Cherokee Community Information | School District

Days On Market for Sold Properties
3 Mo Avg
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 86 , up 1.2 % from 85 days last month and down 26.5 % from 117 days in May of last year . The May 2016 DOM was at its lowest level compared with May of 2015 and 2014 .
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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 $ 62 was down 29.3 % from $ 87 last month and down 0.6 % from 62 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 88.4 % was down from 91.0 % last month and down from 89.3 % 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 41 , up 17.1 % from 35 last month and up 20.6 % from 34 in May of last year .
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98 % 96 % 94 % 92 % 90 % 88 % 86 % 84 % 82 % 80 % 78 % 76 %
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Selling Price per Square Foot
3 Mo Avg
84
Selling Price versus Listing Price Ratio
62 62
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89.3 % 89.3 %
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Inventory / New Listings / Sales
213 201
218 208 207 211
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Avg Selling Price divided by Avg Listing Price for sold properties during the month
178 172 179 172 185 189 185 180
3 Mo Avg
159 159 156 148 157 154 148 138 147 151
164 176 180 177 171
148 151 147 148 145
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88.4 %
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