HOU ARCHIVED July 2016 | Page 17

Market Action Report July 2016 Grimes County: Grimes Agent Name Title Phone Website Other Community Information | School District Price Range: All | Properties: SFH - Con Days On Market for Sold Properties 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 July was 75, up 97.4% from 38 days last month and up 15.4% from 65 days in July of last year. The July 2016 DOM was at a mid level compared with July of 2015 and 2014. 3 Mo Avg 250 200 137 150 100 75 65 50 0 A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J 13 14 15 16 Selling Price per Square Foot 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 July 2016 Selling Price per Square Foot of $90 was up 2.0% from $88 last month and down 3.3% from 93 in July of last year. 150 140 130 120 110 100 90 80 70 60 50 3 Mo Avg 93 90 70 A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J 13 14 15 16 Selling Price versus Listing Price Ratio 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 July 2016 Selling Price vs Original List Price of 90.2% was down from 95.4% last month and down from 96.4% in July of last year. 3 Mo Avg Avg Selling Price divided by Avg Listing Price for sold properties during the month 120% 100% 96.4% 88.9% 90.2% 80% 60% 40% 20% 0% A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J 13 14 15 16 Inventory / New Listings / Sales Inventory / New Listings / Sales 40 47 43 47 46 48 44 50 45 42 44 57 51 45 46 45 42 40 41 30 40 48 43 54 63 58 62 69 50 40 61 50 69 69 73 69 60 73 70 72 80 66 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 July 2016 was 14, up 7.7% from 13 last month and equal to 14 in July of last year. 20 10 0 A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J 13 14 15 16