So last week we looked at inventory and its effects on buyers versus sellers market. More inventory is a buyer's market, less inventory is a sellers market Sounds like the best indicator. But, it's all relative of course. As mentioned, the buyers market is supposed to start at three months inventory. Good luck hitting three months inventory in Navarre.

At this point let's just say that it is leaning more towards a buyers market slowly. A couple of other statistics that help measure that are CDOM or current days on the market and sales price versus original listing price.

How long are these homes sitting on the market? There was a low of 11.7 days back in July of 2021. That was after a high of 38.9 just four months earlier than that.

CDOM hovered around the 20 day mark from that point, until August of last year. It then started climbing. Hitting 29.2 in September then 47.1 in October and peaking at 52 in November.

Keep in mind that November and December are not exactly the busiest months of the year in Navarre. Still, to go from 11.7 days to 52 in such a short period Is significant.

It would only make sense that if they are sitting on the market longer, the final sales price versus the original listing price ratio is going down.

Sale prices hit a high of 101.9% of the original listing price in June of 2021. By November of 2021 it had dropped to 99%. It peaked again last may at 101.3%. It then dropped down to a low of 95% in October of 2022 and ended the year at 95.2%.

One thing that does stand out is the fact that it looks like the sales vs original list price ratio started it's downward trend a couple of months before listings, prices and CDOM made their adjustments in July 22/Aug 22.

So how could we define the threshold that turns this into a buyers market? I'm not sure, but it seems to be headed that way right now.

I'll continue my quest for Navarre real estate information next week.

Have a great week everybody!! And please let me know anything you wanna hear about... navarreflhomes@gmail.com