DOM means Days on Market

DOM, as it is written on the MLS, is an indication of the health of the market. In Jupiter, homes are selling. Here are the stats:

This month in Jupiter-

# of homes actively on the market: 968
Avg. DOM for these active homes: 131

Total sold this month: 138
Avg. DOM for the sold homes: 88

Under contract this month: 113
Avg. DOM for these homes: 86

The homes that have gone under contract and have sold this month are selling within 3 months. But there are these other homes that are taking longer.  Owners should carefully consider price, marketing, staging, etc when preparing their home to sell.

Thus, it is important for a seller to price the home right from the start, be prepared to sell quickly, and to not wait to find their new home. And if you are a seller and get a buyer who must sell their home, this information can help you to see that if they price appropriately and market their home sufficiently, it may be worth the wait depending on the other terms of the contract.

Welcome to a seller’s market.

TY

I’ve done a few blogs in the past.  Once.  Each.  I can’t even recall how to find them.  They are out there somewhere in the world.  I’m hoping this time will be different.  So, welcome to my blog.  I actually have a few things to say today.  I don’t always.  I’ll try to spare you those times.

First, I looked up the stats to see compared to last year-  do we really have so few homes on the market here in Jupiter?  Here’s what I found…..  drum roll, hold your breath, sit down….  Maybe just continue reading…

Last year from January to November 21st – (all residential real estate in Jupiter- single family homes, but not waterfront, 55+, foreclosure, nor short sale)

1202 homes went “active”.  So this misses homes that sold right away on day 1 – 10.

522 Sold.

Of the solds, the average sales price was $393,779. 

 

This year from January to November 21st-

1281 actives (same- missed day 1 – 10 new ones that sold)

610 Sold

$439,122 average sale price

So, what can we get from this brief glimpse…. 

Really, the amount of homes on the market seems fairly similar- 79 more homes in fact than last year. 

Prices are going up.  That’s a bit more than a 10% increase over last year. 

The price increase is consistent with what I’ve been seeing as I’ve been out there showing homes and talking with owners.  The # of homes on the market does not seem consistent.  There are homes on the market.  They are just moving off the market more quickly. 

Next blog, I’ll take a look at days on market as a factor.