MARKET ACTION REPORT
County: Somerset
Somerset
February 2016
Agent Name
Title
Phone
Website
Other
Community Information
Price Range: All | Properties: SFH - Condo
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 February was 169, up 74.2% from 97 days last
month and up 11.9% from 151 days in February of last
year. The February 2016 DOM was at a mid level
compared with February of 2015 and 2014.
Average Days on Market (Listing to Contract) for properties sold during the month
300
3 Mo Avg
250
200
152
150
169
151
100
50
0
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 A S O N D J F
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
February 2016 Selling Price per Square Foot of $52 was
up 0.1% from $52 last month and down 18.9% from 64
in February of last year.
Average Selling Price per Square Foot for properties that sold during the month
3 Mo Avg
140
120
100
80
61
60
64
52
40
20
0
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 A S O N D J F
13
14
15
16
Selling Price versus Listing Price Ratio
Selling Price vs Original Listing 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 o