MA ARCHIVED August 2016 | Page 35

Market Action Report

August 2016

Somerset

County: Somerset

Agent Name
Title
Phone
Website
Other

Community Information
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 August was 105, down 42.0% from
181 days last month and down 11.0% from 118 days in August of
last year. The August 2016 DOM was at its lowest level
compared with August of 2015 and 2014.

3 Mo Avg

300
250
200
150

118

110

105

100
50
0
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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
140
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 120
more normalized indicator on the direction of Property values.
100
The August 2016 Selling Price per Square Foot of $69 was down
80
18.4% from $85 last month and up 30.2% from 53 in August of
last year.
60

3 Mo Avg

74

69
53

40
20
0
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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 August 2016 Selling Price vs Original
List Price of 91.0% was up from 89.4% last month and up from
83.1% in August of last year.

3 Mo Avg

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

100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%

91.0%

83.1%

81.6%

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Inventory / New Listings / Sales

Inventory / New Listings / Sales

230

231

226

225

217

210

205

209

197

249

236

292

264

285

275

259

247

237

150

230

247

241

275

262

287

280

306

296

280

256

270

245

231

200

257

250

276

300

303

350

267

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 August 2016 was 37, up 19.4% from 31 last month and down
2.6% from 38 in August of last year.

100
50
0
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Copyright © Coldwell Banker Residential Brokerage | Price Range: All | Property Types: SFH - Con
Data is provided courtesy of Coastal Association of REALTORS of MD, Inc., Metropolitan Regional Information Systems, Inc., Sussex County Association of REALTORS and may not reflect all relevant real estate activity. Coldwell Banker Residential Brokerage
does not warrant or guarantee the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction.

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