Market reports are full of useful information, but only if the numbers make sense. Here are 7 key stats to know and what they really mean.
1. MEDIAN SALE PRICE
This is the “middle” price of all homes sold. Half sold for more and half sold for less.
WHY IT MATTERS:
The median gives you a much clearer picture of what homes are typically selling for. It avoids being thrown off by one super high or super low sale.
2. AVERAGE DAYS ON MARKET (DOM)
This shows how many days a home typically takes to sell after being listed.
WHY IT MATTERS:
A lower DOM means homes are selling fast due to strong demand or competitive pricing.
A higher DOM can indicate slower buyer activity or overpriced listings.
Median DOM can be even more helpful if a few homes have been sitting for a long time.
3. NUMBER OF HOMES SOLD
This is the total number of homes that closed during a specific time period.
WHY IT MATTERS:
It shows how active the market is.
Fewer sales might mean seasonal slowdowns or low inventory.
More sales usually show strong buyer interest.
4. NEW LISTINGS
This is the number of homes that entered the market during the period.
WHY IT MATTERS:
If a lot of new homes are hitting the market, buyers have more choices and sellers have more competition.
If very few homes are listed, sellers have the advantage because buyers are competing for limited inventory.
5. LIST TO SALE PRICE RATIO
This is the percentage of the original list price that homes actually sold for.
WHY IT MATTERS:
At or above 100% means homes are selling at or above asking price.
Below 100% means buyers are negotiating and winning price reductions.
This stat shows how much leverage buyers or sellers have in today’s market.
6. MONTHS OF INVENTORY
How long it would take to sell all homes currently on the market if no new homes were listed.
TYPICAL RANGES:
0–3 months: Seller’s market
4–6 months: Balanced
7+ months: Buyer’s market
This number helps you understand whether the market is speeding up or slowing down.
7. PRICE PER SQUARE FOOT
How much buyers are paying for each square foot of living space.
WHY IT IS HELPFUL:
It offers a simple way to compare homes of different sizes and estimate your home’s value in relation to recent sales.
KEEP IN MIND:
This number can shift depending on condition, updates, layout, neighborhood, and lot size. It’s a great guide, but not a perfect formula.
FINAL THOUGHTS
Market reports can be powerful tools if you know how to read them. Whether you plan to downsize, refinance, or just want to understand your home’s value, keeping an eye on these numbers can help you make smarter decisions.
Want a simple market update for your neighborhood? Reach out anytime.
JOCELYN SIRIVONGXAY | REALTOR®
Keller Williams Kansas City Metro
Mobile: 913.280.0205
Email: Jocelyn.Sirivongxay@kw.com