MA ARCHIVED October 2016 | Page 35

Market Action Report

October 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 October was 173, up 39.5% from
124 days last month and down 0.6% from 174 days in October of
last year. The October 2016 DOM was at a mid level compared
with October of 2015 and 2014.

3 Mo Avg

300
250
200

174

173

150
103

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 October 2016 Selling Price per Square Foot of $72 was down
80
1.3% from $73 last month and down 6.8% from 78 in October of
last year.
60

3 Mo Avg

78

72

44

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 October 2016 Selling Price vs Original
List Price of 84.1% was down from 89.7% last month and up
from 79.4% in October 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%

84.1%

79.4%

78.8%

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Inventory / New Listings / Sales

Inventory / New Listings / Sales

195

233

217

231

227

225

217

210

205

249

292

285

275

264

236

209

197

150

259

247

237

230

247

241

275

262

287

280

306

296

280

256

245

200

231

250

270

300

303

350

257

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 October 2016 was 23, up 9.5% from 21 last month and down
23.3% from 30 in October of last year.

100
50
0
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 A S O
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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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