The Days on Market Trend Remains Steady*
The Days On Market (DOM) for April 2020 was 97. That number was up 4.3% when compared to March 2020 and down 2.2% when compared to April 2019.
The average DOM shows how many days the average property is on the market before it sells. An upward trend in DOM trends to indicate a move towards more of a Buyer’s market, a downward trend indicates a move towards more of a Seller’s market.
The Sold/Original List Price Ratio Remains Steady**
Sold Price vs. Original List Price for April 2020 was 88%. When compared to March 2020 that number was down 2.2% and when compared to April 2019 that number was the same.
The Sold Price vs. Original List 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.
* Based on 6 month trend – Upward/Downward/Neutral
** Based on 6 month trend – Rising/Falling/Remains Steady