What Does the Market hold in store?

Market Summary Report _ flexmls Web

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Many people wonder how the real estate market is doing in Bismarck... Here is a market summary report, and it shows some basic stats on what is going on...

The first stat is pretty self explanatory. It is interesting to note that the number of sold listings stayed strong through December

The Listing Prices shows the median list price for active and new listings, and the median sale price . This is as would be expected with the New lisitngs being higher than the active prices. The Sold price will fluctuate based on specific houses that sell.

The absorption rate is the days of supply. Here it is listed in months... we can sell houses for 3 months with no new listings,

Sold to list ration is the difference between the List price, and the actual sold price. This along with days on market can give you a good idea of if it is a buyers market, or sellers.... the closer to 100% or over , the more of a sellers market it is .

Days on market is the average time houses are listed before selling. 90 days or less could be an indication it is a sellers market.

The price volume is the value of all houses: active, new, sold. It is loosly linked to Listing prices, and gives a general snapshop of what is on the market.

I hope this gives you a little bit of insider lingo. Check out my next post when I talk about how to use this information to read the market.