Need-To-Know Real Estate Numbers

Real Estate Agent with Aussie Real Estate Team NORES# 21174

Recently, I took a financial course for real estate agents, which was taught by the amazing Keller Williams instructor Matt Fetick. Besides the Realtor math that was discussed, his key point was that all numbers tell a story. Of course, all numbers are indicators and measures of something, whether good or bad. And since real estate is an industry that’s all about numbers, I thought I would share the important ones that your real estate professional should be sharing with you. Buyers and sellers alike should pay close attention to the following:

Days On Market (DOM)
This is the number of days that a home has been on the market without selling. A high DOM indicates that either the home is overpriced, mispriced based on condition and features compared to similar properties, or that the market is experiencing a shift. High DOM usually is reflective of only a few things: the price not being adjusted to stay competitive, the seller not being truly being motivated to do what they need (price or improvements/updates) to receive an offer, or market activity/seasonal changes.

Monthly Supply of Inventory
This is also known as the “absorption rate,” being the total amount of time that it would take to sell every house on the market. This is an indication of. . . .

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