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Mike's Weekly Real Estate Market Update 



In this broadcast, Mike shares the latest market data and explains what this means to you as a buyer or seller:  August 27, 2018


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Mike's Real Estate Market Update: August 27, 2018

Michael Renick

The Key to our success is You!  We understand that.  The strongest aspect of communications is listening...

The Key to our success is You!  We understand that.  The strongest aspect of communications is listening...

Aug 16 4 minutes read

Watch and Listen to Mike's Real Estate Market Report

Please let me know what area you would like me to personally prepare for you?

[email protected]

941-400-8735

*********************

My Current Coverage Plan:

First Monday - What trends do we see in area sales?

Second Monday - Are local prices rising or falling?

Third Monday - How much inventory is out there today?

Fourth Monday - How long is it taking to get properties sold?  

Fifth Monday - No Report

Today's Coverage:  How long is it taking to get properties sold in your area?

What is DOM?

  • DOM stands for days on the market, how long a property is on the market. It generally is between the day the property is listed and the day it becomes off market (for example, when it becomes pended).

Is Average DOM calculated based on sold listings?    

  • Yes, it is. Average DOM is the average of DOM of sold properties.

What is CDOM and how is it calculated?   

  • CDOM stands for continuous days on the market and tracks consecutive listing periods.  
  • While all MLSs are a little different, the generally accepted rule is that, if a property is re-listed within a 30 day period of it's previous expired, withdrawn, or canceled period, CDOM kicks in and tracks the aggregated listing time of the property. If the property is off the market for 30 days it resets the CDOM. CDOM is usually only measured for a maximum period of two years.

Sarasota County

July 2018 Average Days on Market trend Remains Steady*


Average Days on Market in July 2018: 79

Down 2.5% compared to last month

Down 1.2% compared to last year


Manatee County

July 2018 Average Days on Market trend Remains Steady*


Average Days on Market in July 2018: 72

Up 4.3% compared to last month

Down 12.2% compared to last year


Longboat Key

July 2018 Average Days on Market trend Remains Steady*


Average Days on Market in July 2018: 136

Up 17.2% compared to last month

Up 7.1% compared to last year

 


Holmes Beach/Bradenton Beach

July 2018 Average Days on Market trend Remains Steady*


Average Days on Market in July 2018: 132

Up 28.2% compared to last month

Down 3.6% compared to last year


Siesta Key

July 2018 Average Days on Market trend Remains Steady*


Average Days on Market in July 2018: 79

Down 2.5% compared to last month

Down 1.2% compared to last year


Venice

July 2018 Average Days on Market trend Remains Steady*


Average Days on Market in July 2018: 79

Down 8.1% compared to last month

Up 9.7% compared to last year


City of Sarasota

July 2018 Average Days on Market trend is Falling*


Average Days on Market in July 2018: 78

Down 1.3% compared to last month

Down 8.2% compared to last year


Bradenton

July 2018 Average Days on Market trend Remains Steady*


Average Days on Market in July 2018: 65

Up 1.6% compared to last month

Down 18.7% compared to last year

All reports are published August 2018, based on data available at the end of July 2018, except for the today stats. All reports presented are based on data supplied by the Mid-Florida MLS. The Mid-Florida MLS does not guarantee or is not in anyway responsible for its accuracy. Data maintained by the Mid-Florida MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Mike Provides even more Crucial Information for his Buyers and Sellers:


 


 

I would enjoy the opportunity to prepare your personal update:  No Obligation!

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