Whether you’re looking to purchase your next home or list your current property, understanding key market statistics can give you a competitive edge. Here’s a quick break down the most important real estate metrics and what they mean for you.

For Home Buyers

When buying a home, you need to understand market conditions, competition, and pricing trends. Here are the key stats that will help you navigate the process:

Median & Average Sales Price
This tells you what homes are selling for in your desired area. If prices are rising, the market is competitive. If they are stable or declining, you may have more negotiating power.

Days on Market (DOM)
This shows how quickly homes are selling. A low DOM (under 20 days) means homes are moving fast, and you may need to act quickly. A higher DOM (35+ days) suggests sellers may be more willing to negotiate.

Inventory Levels (Months of Supply)
This indicates whether it's a buyer’s market (more homes available, less competition) or a seller’s market (low supply, high demand).

• Less than 3 months = Seller’s Market

• 3-6 months = Balanced Market

• More than 6 months = Buyer’s Market

Percent of List Price Received
If homes are selling above 100% of the list price, expect bidding wars. If homes are selling below 100%, you may have room to negotiate a better deal.

Price Per Square Foot
This helps you compare home values between different properties and neighborhoods.

For Home Sellers

To sell your home successfully, it's essential to price it competitively and stay informed about market trends. Here’s what to keep an eye on:

Median & Average Sales Price
Helps you price your homes competitively by reflecting current market trends and buyer demand. Setting the right price based on these metrics maximizes profit, attracts serious buyers, and ensures a timely sale.

Days on Market (DOM)
If homes in your area are selling fast, you can expect a quick sale. If DOM is high, staging, pricing strategy, or market timing may be key to getting top dollar.

New Listings & Pending Sales
More new listings can mean higher competition. If pending sales are declining, the market might be slowing down, and pricing competitively is crucial.

Percent of List Price Received
If homes are consistently selling at or above the list price, pricing too low could leave money on the table.

Thinking About Buying or Selling? Let's Talk!

Whether you need a custom market analysis, expert advice on timing your move, or insights into the latest local trends, I’ve got you covered. As your trusted real estate advisor, I’ll provide up-to-date market data tailored to your area, ensuring you make informed, confident decisions every step of the way.