Now it is time for us to turn our focus to the Average Consecutive Days on Market – September 2016 vs 2017. Last week our blog was spotlighting the Number of Solds for September 2016 and 2017 in the Rochester and beyond communities. The week before that we discussed the Average Sold Prices for September 2016-2017. All these numbers tell us a story about each of the communities and therefore we can get a better grasp as to how the VERY local markets are performing.
Let’s begin as always with a visual to demonstrate the average consecutive days on market with a year over year comparison.
Average Consecutive Days On Market – September 2016 vs 2017 In Detail:
In 2016, the shortest consecutive days on market were found in the following communities –
- Royal Oak with 35.
- Troy with 44.
- Shelby Twp with 58. (Although, worth mentioning is Lake Orion with only 1 day longer – 59)
In 2017, the shortest consecutive days on market were found in the following communities –
- Royal Oak with only 27 CDOM!
- Shelby Twp rises to second place with 32 CDOM.
- Rochester is a new top contender with 37 CDOM.
So very interesting, right? Troy doesn’t place within the top 3 for 2017 BUT does only drop by 1 day to 43. Now hold on to your seats because this community dropped from 115 CDOM to 37 CDOM! Wow, Rochester! That’s a huge change!!
Let’s look back at our last two weeks of stats to find where Rochester was. Last week we did the average number of solds and Rochester went from 14 solds in 2016 to 10 solds in 2017. Not a huge change with this statistic.
Next, we look back at our average sold prices for Rochester and in 2016 it was $408,638 while in 2017 it had dropped slightly to $402,953.
Again, I’m not going to go into the whys at this point. I have quite a good idea on what’s happening, but this blog is only to give you the numbers. I’m more than happy to discuss the details with you. Give me a call! 🙂