How to Read a Real Estate Market Update (and What It Means for You)

If you’ve ever seen a real estate market update, whether on social media, a newsletter, or a real estate website, you know it’s filled with numbers and terms like “median list price” or “days on market.” But what do these numbers really mean for you as a buyer or seller? At 6 Star Realty, we believe knowledge is power, so here’s your quick guide to understanding these updates and using them to make smart real estate decisions.

1. Active Listings

What it means: This is the number of homes currently for sale in the area.
Why it matters: A higher number means more options for buyers but more competition for sellers. A lower number means buyers have fewer choices, and sellers may have the advantage.

2. Median List Price Per Square Foot

What it means: This tells you the average price sellers are asking for each square foot of their home.
Why it matters: This figure helps you compare properties of different sizes on an equal basis. It’s also a great way to see if your area’s home values are trending up or down.

3. Median List Price

What it means: This is the middle point of all home listing prices—half are listed for more, half for less.
Why it matters: This gives you a snapshot of what a typical home in your market is currently selling for. For buyers, it’s a good starting point for budgeting. For sellers, it’s a benchmark for pricing competitively.

4. Days on Market (DOM)

What it means: The average number of days it takes for a home to sell.
Why it matters: A low DOM means homes are selling quickly often a sign of strong demand. A higher DOM means homes are taking longer to sell, which can indicate a buyer’s market or that prices are too high.

How to Use This Information

• If you’re buying: Look for trends. Are prices climbing? Are homes selling faster? This could mean you need to move quickly to secure your dream home.

• If you’re selling: Use the median list price and DOM to set realistic expectations for price and timing.

• If you’re investing: Price per square foot and DOM can help identify undervalued properties or hot markets.

The Bottom Line

Real estate market updates are more than just numbers—they’re a tool to help you make confident, informed decisions. At 6 Star Realty, we provide these updates regularly so our clients know exactly where they stand in the market.

If you’re curious about what these numbers mean for your home or buying plans, let’s talk. We can break down the trends and show you how to make your next move with confidence.

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