CAR ARCHIVED March 2017 | Page 11

MECKLENBURG

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 March was 76 , down 33.3 % from 114 days last month and up 22.6 % from 62 days in March of last year . The March 2017 DOM was at a mid level compared with March of 2016 and 2015 .
250
200
150
100
170
62
76
50
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 March 2017 Selling Price per Square Foot of $ 318 was up 15.0 % from $ 276 last month and up 4.9 % from 303 in March 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 March 2017 Selling Price vs Original List Price of 93.4 % was down from 94.5 % last month and down from 94.6 % in March 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 March 2017 was 103 , up 2.0 % from 101 last month and up 39.2 % from 74 in March of last year .
0
350 340 330 320 310 300 290 280 270 260 250
100 % 98 % 96 % 94 % 92 % 90 % 88 % 86 % 84 % 82 % 80 %
350 300 250 200 150 100 50
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
J
A
S O N D
J
F M
14
15
16
17
Selling Price per Square Foot
306
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
J
A
S O N D
J
F M
14
15
16
17
291
303
Selling Price versus Listing Price Ratio
94.3 % 94.6 %
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
J
A S O N D
J
F M
14
15
16
17
289 268 273 263
243 227
Avg Selling Price divided by Avg Listing Price for sold properties during the month
205 176 169
Inventory / New Listings / Sales
190 201
234 266 260 270 284 285
261
226 214 227 246 242 296 309 304 298 296 299
274
247
3 Mo Avg
3 Mo Avg
209 212
256
318
93.4 %
285
0
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
J
A
S O N D
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F M
14
15
16
17
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