How's The Market?
❓️A common question every agent receives is "How's the market?" To have an educated answer, here are some monthly stats you should be looking at:
Weeks of Inventory: This is a measure of how long it would hypothetically take to sell through all available homes currently for sale, given current levels of home sales. A balanced market ranges from 4-6 months of supply. A Buyer's market has a higher number (fewer buyers relative to homes for sale). A Seller's market has a lower number (more buyers relative to homes for sale).
Average Days On Market (DOM): This is the average number of days a property remains listed before it is sold. This is a key indicator of how quickly homes are selling in this market. A lower DOM = hot market (homes are selling quickly). A higher DOM = slow market (homes are taking longer to sell). FYI, the National average is around 34 days.
Active Listings: This refers to the properties that are currently listed for sale and available for showings/offers. This number helps assess market competition, predict inventory needs, and pricing strategies. A high number may indicate a Buyer's market (more properties available than buyers). A low number may indicate a Seller's market (more Buyers than properties available).
Average Home Sales Price: This number is calculated by adding up all the home sale prices in a given area during a specific time (in this case, in the Denver Metro, in the month of May) and dividing it by the total number of homes sold. It provides a broad overview of the affordability of that area, helping Buyers understand the typical price range they can expect. If the average price is trending up, it could indicate growing competition among Buyers.
🌏️You can find your local market data by browsing MLS hotsheets, Inman News, and State and/or Local Associations.
📢 Share with us your market data below. We'd love to see what's happening across the country.
Comments
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🏘️ Douglas County, CO – May 2025 Market Report
35 Average Days on Market
1,991 Active Listings
$720K Median Closed Price
12 weeks Inventory based on MLS averages
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This is so interesting, Jeni! Thank you for posting these stats.
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