CAR ARCHIVED March 2017 | Page 9

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 March was 211 , down 0.5 % from 212 days last month and down 7.0 % from 227 days in March of last year . The March 2017 DOM was at a mid level compared with March of 2016 and 2015 .
300
250
200
150
100
139
227
211
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 $ 265 was up 29.7 % from $ 204 last month and down 33.6 % from 398 in March of last year .
0
500 450 400 350 300 250 200
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
232
398
3 Mo Avg
265
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 91.8 % was up from 89.9 % last month and up from 88.2 % in March of last year .
150
100 % 95 % 90 % 85 %
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 versus Listing Price Ratio Avg Selling Price divided by Avg Listing Price for sold properties during the month
87.9 % 88.2 %
3 Mo Avg
91.8 %
80 % 75 %
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 26 , up 160.0 % from 10 last month and up 23.8 % from 21 in March of last year .
70 %
120 100 80 60 40
80
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
86 89 87 83 88 87
78
66
58
Inventory / New Listings / Sales
59 73 75 76 74 72 74 70 66 70 65 73 70
80
91 98 98 95 90 90
83 78 76
70
60
78
20 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
J
F M
14
15
16
17
Coldwell Banker Global Luxury SM | 9