CAR ARCHIVED December 2016 | Page 23

Mecklenburg Community Information | School District

Mecklenburg Community Information | School District

Market Time
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The average Days On Market ( DOM ) shows how many days the
average Property is on the market before it sells . An upward
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trend in DOM tends to indicate a move towards more of a
Buyer ' s market , a downward trend a move towards more of a
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Seller ' s market . The DOM for December was 46 , up 9.5 % from
50
42 days last month and down 13.2 % from 53 days in December of
last year . The December 2016 DOM was at its lowest level
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compared with December of 2015 and 2014 .
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Selling Price per Square Foot The Selling Price per Square Foot is a great indicator for the direction of Property values . Since Median Sales Price and Average Sales price can be impacted by the ' mix ' of high or low end Properties in the market , the selling price per square foot is a more normalized indicator on the direction of Property values . The December 2016 Selling Price per Square Foot of $ 127 was down 1.4 % from $ 129 last month and up 7.8 % from 118 in December of last year .
Inventory / New Listings / Sales This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales . The graph shows the basic annual seasonality of the market as well as the relationship between these items . The number of New Listings in December 2016 was 1,042 , down 24.3 % from 1,377 last month and up 10.6 % from 942 in December of last year .
20 10 0
150 145 140 135 130 125 120 115 110 105 100
Selling Price vs Original Listings Price
The Selling Price vs Original Listing Price reveals the average
amount that Sellers are agreeing to come down from their
99 %
original list price . The lower the ratio is below 100 % the more of
98 %
a Buyer ' s market exists , a ratio at or above 100 % indicates more
of a Seller ' s market . The December 2016 Selling Price vs Original
97 %
List Price of 96.8 % was down from 97.0 % last month and up
96 %
from 96.0 % in December of last year .
95 %
94 % 93 % 92 % 91 %
7,000 6,000 5,000 4,000 3,000 2,000 1,000
Days On Market for Sold Properties
72
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F M A M J
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S O N D
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S O N D
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F M A M J
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Selling Price per Square Foot
115
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F M A M J
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S O N D
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F M A M J
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S O N D
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F M A M J
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S O N D
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Selling Price versus Listing Price Ratio
94.3 %
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F M A M J
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A S O N D
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A S O N D
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F M A M J
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A S O N D
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4,780 5,017 5,254 5,676 5,776 5,744
Avg Selling Price divided by Avg Listing Price for sold properties during the month
5,661 5,514 5,321 5,133
Inventory / New Listings / Sales
4,761 4,234 4,064 4,096 4,339 4,486 4,563 4,536 4,672 4,524 4,428 4,300
3,878
53
118
96.0 %
3,411 3,363 3,239 3,456 3,629 3,809 3,902 3,945 3,857
3 Mo Avg
3 Mo Avg
3 Mo Avg
3,814 3,586
3,163
46
127
96.8 %
2,573
0
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F M A M J
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A S O N D
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F M A M J
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A S O N D
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F M A M J
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A S O N D
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