It’s time for another Dax’s Data Market Update. Active inventory barely budged, settling 1 lower than last week. New listings were also comparable to last week, with 1 less. Mortgage rates did not move at 6.61%. Homes under contract are down 7 compared to last week. Homes closed are down 4 compared to last week. As for the 30-day, the Median Price did not move, again landing on one of the most come Median Prices since 2023. The Average Price did move, down nearly 8% compared to last week’s 30-day. The result was primarily due to an outlier leaving the data set. Days on Market stayed close to last week’s total, ending at 38.05. Price/List increased a quarter point to 98.19%. Price/Sqft moved down slightly to $823.

This may be the most uneventful data since I began pulling in late 2021. Barely any change at all. So while the traditional metrics gave us nothing to talk about, the data still can. I haven’t spoken in some time about the data-driven evidence that strategic pricing is critical. I have been harping on how homes in the right location with the right upgrades in the right neighborhood with the right presentation are driving the market… but let’s look deeper. Whether you’re a buyer or seller, you can probably sense when a home is in high demand. Increased showings, lots of open house activity, agents indicating their clients’ interest. The result is competition and upward pricing pressure. In today’s breakdown, I’ll prove how DOM is the clear indicator of how well a house is going to perform. I broke down DOM into 4 categories: 1-15 days, 16-30 days, 31-45 days, and 46+ days. Here is the result of Price to List broken down by those categories: If a house sells in the first 15 days, this 30-day data shows the Price/List at 103.27%, on average (a great result). At 16-30 days, 98.55% Price/List. At 31-45 days, 92.53%. AT 46+ days, 89.08%. For sellers, this highlights the importance of strategic pricing; overprice, and you will sit for longer and rarely get your desired result. For buyers, if you are looking to avoid competition and leverage time to negotiate, target homes that have been on the market longer.