CAR ARCHIVED May 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 May was 81 , up 523.1 % from 13 days last month and down 18.2 % from 99 days in May of last year . The May 2017 DOM was at its lowest level compared with May of 2016 and 2015 .
300
250
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150
100
142
99
81
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 May 2017 Selling Price per Square Foot of $ 260 was down 10.4 % from $ 291 last month and down 16.0 % from 310 in May of last year .
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500 450 400 350 300 250 200
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Selling Price per Square Foot
312 310
3 Mo Avg
260
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 2017 Selling Price vs Original List Price of 80.4 % was down from 104.8 % last month and down from 94.4 % in May of last year .
150
120 % 100 % 80 % 60 %
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Selling Price versus Listing Price Ratio Avg Selling Price divided by Avg Listing Price for sold properties during the month
92.5 % 94.4 %
3 Mo Avg
80.4 %
40 % 20 %
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 May 2017 was 24 , up 71.4 % from 14 last month and up 14.3 % from 21 in May of last year .
120 100
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80 60 40
89
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87
83 89 88
79
67
59 60
74
Inventory / New Listings / Sales
76 77 76 74 76 72 68 72 67 75 72
81
92 99 99 96 90 90
83 78 76
70
61 79 80
91
20 0
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