MA ARCHIVED May 2016 | Page 35

Somerset Community Information

Somerset Community Information

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 129 , up 8.4 % from 119 days last month and down 14.6 % from 151 days in May of last year . The May 2016 DOM was at its lowest level compared with May of 2015 and 2014 .
300
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225
151
129
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0
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Selling Price per Square Foot
Selling Price per Square Foot
3 Mo Avg
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
101
more normalized indicator on the direction of Property values .
The May 2016 Selling Price per Square Foot of $ 69 was up 16.9 %
100
from $ 59 last month and down 31.5 % from 101 in May of last
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69
year .
60
39
40
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 89.7 % was up from 85.6 % last month and up from 87.1 % 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 34 , down 12.8 % from 39 last month and down 8.1 % from 37 in May of last year .
20 0
100 % 90 % 80 % 70 % 60 % 50 % 40 % 30 % 20 % 10 % 0 %
350 300 250 200 150 100 50
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Selling Price versus Listing Price Ratio
72.8 %
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Inventory / New Listings / Sales
287 286 285 276 267 270 257
Avg Selling Price divided by Avg Listing Price for sold properties during the month
245 231
256
280 303 306 296 287 280 275 262 247 241 237 230
247
87.1 %
259 275 285 292
264 249 236 209 196
3 Mo Avg
203 208 216
89.7 %
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0
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