Someone asked me today, If you could highlight JUST ONE market stat within your area what would it be? 

I would probably say the market statistic to highlight would be average days on market for both currently active properties as well as properties that have sold EACH WEEK. The reason we do these real estate market updates every single week without fail is because the market is literally changing week by week, even day by day. This market statistic is important to highlight because many sellers are entering this market with the same mindset sellers had six months ago thinking they can list high, get an offer the next day for X amount over asking and be done with it. Many sellers are struggling with pricing their homes according to the market NOW and comparing the number of days their home has to sit on the market to 6 months ago. 

Keeping up to date with just average days on market can tell a seller what they may be facing once they list their home not only to determine how long the property may be listed for, but what they can expect in terms of sale price. If a home is sitting on the market for longer, it likely won’t sell for asking. 

For buyers this market statistic (number of days on market), Is important to note as you decipher if now is a good time to buy, prepare to gear up against the competition, and a huge factor indicating the offer price.