CAR ARCHIVED June 2017 | Page 19

Market Action Report June 2017 Iredell County: Iredell Agent Name Title Phone Website Other Community Information | School District Price Range: All | Properties: SFH - Con Days On Market for Sold Properties 3 Mo Avg Market Time 120 The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward 100 trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a 80 Seller's market. The DOM for June was 68, up 1.5% from 67 days last month and down 11.7% from 77 days in June of last year. 60 The June 2017 DOM was at its lowest level compared with June of 2016 and 2015. 40 78 77 68 20 0 J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J 14 15 16 17 Selling Price per Square Foot 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 June 2017 Selling Price per Square Foot of $117 was down 2.1% from $120 last month and down 1.7% from 119 in June of last year. 150 140 130 120 110 100 90 80 70 60 50 3 Mo Avg 119 114 117 J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J 14 15 16 17 Selling Price versus Listing Price Ratio 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 June 2017 Selling Price vs Original List Price of 95.7% was down from 95.9% last month and up from 95.3% in June of last year. 3 Mo Avg Avg Selling Price divided by Avg Listing Price for sold properties during the month 97% 96% 95.7% 95.3% 95.2% 95% 94% 93% 92% 91% 90% 89% J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J 14 15 16 17 Inventory / New Listings / Sales Inventory / New Listings / Sales 800 1,000 1,200 1,400 1,600 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 June 2017 was 366, down 4.9% from 385 last month and down 14.7% from 429 in June of last year. 600 400 200 0 J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J 14 15 16 17 Copyright © Coldwell Banker Residential Brokerage | Price Range: All | Property Types: SFH - Con Data is provided courtesy of Charlotte Regional REALTOR Association, Triad MLS, Inc. and may not reflect all relevant real estate activity. Coldwell Banker Residential Brokerage does not warrant or guarantee the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction. c o l dw el l b a n k er h o m es . c o m | 19