CAR ARCHIVED March 2017 | Page 18

CHARLESTON

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 159 , down 18.9 % from 196 days last month and down 10.7 % from 178 days in March of last year . The March 2017 DOM was at its lowest level compared with March of 2016 and 2015 .
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198
178
159
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 $ 478 was up 1.2 % from $ 472 last month and down 8.8 % from 524 in March of last year .
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Selling Price per Square Foot
488
524
3 Mo Avg
478
400
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 91.2 % was up from 90.2 % last month and up from 84.4 % 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 129 , up 40.2 % from 92 last month and up 6.6 % from 121 in March of last year .
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96 % 94 % 92 % 90 % 88 % 86 % 84 % 82 % 80 % 78 % 76 %
500 450 400 350 300 250 200 150 100 50 0
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Selling Price versus Listing Price Ratio
90.3 %
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392 411 419 407 400 397 401
Avg Selling Price divided by Avg Listing Price for sold properties during the month
379 355 369
84.4 %
Inventory / New Listings / Sales
388 387 396 393 390 377 354 363 350
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344 327 342
376 432 431 445 446 432 431 431 424 418
3 Mo Avg
400 398
431
91.2 %
472
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