Each month, SWMLS Director Michelle Smith provides her insight on specific data from the Green Sheet.

In last month’s video, Michelle broke down the difference between average and median—and shared a quick pro tip: when you compare the two side-by-side, you can uncover some really telling trends.

This month, we’re putting that tip into action as we look at the idea of a “split market.” In June, for example:

• The median days on market was just 16 days,
• But the average days on market was 33 days.

That’s a huge gap—and it tells us a lot. Half of June’s closings went under contract in 16 days or less… but the other half took much longer, enough to more than double the average.

So here’s the question:

What was the median list-to-sale price ratio for the 50% of listings that went under contract in 16 days or less?

That’s where we start to understand the behavior of the “express lane” segment in our split market.

To view the latest Market Statistics, visit https://www.gaar.com/market-statistics