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 168 , up 17.5 % from 143 days last month and up 47.4 % from 114 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 $ 592 was up 4.7 % from $ 566 last month and up 13.1 % from 524 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 87.0 % was down from 89.4 % last month and down from 91.6 % in February of last year .

Days On Market for Sold Properties

650 630 610 590 570 550 530 510 490 470 450

96 % 94 % 92 % 90 % 88 % 86 % 84 %

608

524

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

93.2 % 91.6 %

3 Mo Avg

3 Mo Avg

592

87.0 %

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 489 , down 21.9 % from 626 last month and down 21.5 % from 623 in February of last year .

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

500

0

2,595 2,645 2,624 2,594 2,583 2,644 2,566 2,606 2,649 2,507 2,638 2,664 2,706 2,653 2,547 2,510 2,542 2,504 2,536

2,691 2,806 2,866 3,049 3,192 3,199 3,247 3,185 3,142 3,143 3,106 3,143 3,216 3,362 3,299 3,393 3,411 c o l d w e l l b a n k e r h o m e s . c o m | 117