CAR ARCHIVED July 2016 | Page 19

Iredell Community Information | School District

Iredell Community Information | School District

Days On Market for Sold Properties
3 Mo Avg
Market Time The average Days On Market ( DOM ) shows how many days the average Property is on the market before it sells . An upward trend in DOM tends to indicate a move towards more of a Buyer ' s market , a downward trend a move towards more of a Seller ' s market . The DOM for July was 72 , down 6.5 % from 77 days last month and down 8.9 % from 79 days in July of last year . The July 2016 DOM was at its lowest level compared with July of 2015 and 2014 .
120
100
80
60
40
87
79
72
20
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 July 2016 Selling Price per Square Foot of $ 120 was up 0.6 % from $ 120 last month and up 11.7 % from 108 in July of last year .
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 original list price . The lower the ratio is below 100 % the more of a Buyer ' s market exists , a ratio at or above 100 % indicates more of a Seller ' s market . The July 2016 Selling Price vs Original List Price of 95.2 % was down from 95.3 % last month and up from 93.1 % in July 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 July 2016 was 359 , down 16.1 % from 428 last month and down 1.4 % from 364 in July of last year .
0
150 140 130 120 110 100 90 80 70 60 50
96 % 95 % 94 % 93 % 92 % 91 % 90 % 89 % 88 % 87 %
1,600 1,400 1,200 1,000 800 600 400 200
0
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O N D
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F M A M
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F M A M
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F M A M
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13
14
15
16
Selling Price per Square Foot
106 108
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S
O N D
J
F M A M
J
J
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O N D
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F M A M
J
J
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F M A M
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13
14
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16
Selling Price versus Listing Price Ratio
92.6 %
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O N D
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F M A M
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J
A
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O N D
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F M A M
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J
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13
14
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1,421 1,443 1,415 1,313 1,260 1,240
Avg Selling Price divided by Avg Listing Price for sold properties during the month
1,270 1,341 1,389 1,388
93.1 %
Inventory / New Listings / Sales
1,399 1,403 1,343 1,304 1,265 1,209 1,105 1,097 1,094 1,187 1,170 1,242 1,277 1,255 1,246 1,236 1,224
1,133 1,067 1,022 995 1,050
3 Mo Avg
3 Mo Avg
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O N D
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F M A M J
J
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O N D
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F M A M J
J
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O N D
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F M A M J
13
14
15
16
1,119 1,107 1,149
120
95.2 %
1,108
J
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