CAR ARCHIVED May 2016 | Page 9

Market Action Report

County: Cabarrus

May 2016

Cabarrus
Agent Name
Title
Phone
Website
Other

Community Information | School District
Price Range: All | Properties: SFH - Con

Days On Market for Sold Properties
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 May was 57, equal to 57 days last
month and down 26.9% from 78 days in May of last year. The
May 2016 DOM was at its lowest level compared with May of
2015 and 2014.

3 Mo Avg

100
90

79

80

78

70

57

60
50
40
30
20
10
0

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Selling Price per Square Foot

Selling Price per Square Foot

The Selling Price per Square Foot is a great indicator for the
100
direction of Property values. Since Median Sales Price and
95
Average Sales price can be impacted by the 'mix' of high or low
90
end Properties in the market, the selling price per square foot is a
85
more normalized indicator on the direction of Property values.
The May 2016 Selling Price per Square Foot of $96 was up 6.9%
80
from $90 last month and up 5.0% from 92 in May of last year.
75
70
65
60
55
50

3 Mo Avg
96

92
84

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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 May 2016 Selling Price vs Original List
Price of 96.9% was equal to 96.9% last month and up from
95.2% in May of last year.

3 Mo Avg

Avg Selling Price divided by Avg Listing Price for sold properties during the month

98%
97%
96%
95%
94%
93%
92%
91%
90%
89%
88%

96.9%
95.2%
93.3%

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Inventory / New Listings / Sales

Inventory / New Listings / Sales

763

733

719

732

600

684

870
747

980

938

963

958

968

925

959

956

917

903

996

906

1,084

1,019

1,160

1,121

1,222

1,192

1,193

1,176

1,132

1,175

1,115

1,260

1,101

800

1,222

1,000

1,259

1,200

1,215

1,400

1,153

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 May 2016 was 387, down 12.4% from 442 last month and up
0.3% from 386 in May of last year.

400
200
0
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Copyright © Coldwell Banker | 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
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.

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