MA ARCHIVED February 2016

Spotsylvania MARKET ACTION REPORT County: Spotsylvania February 2016 Agent Name Title Phone Website Other Community Information Price Range: All | Properties: SFH - Condo 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 February was 70, down 4.1% from 73 days last month and down 29.3% from 99 days in February of last year. The February 2016 DOM was at its lowest level compared with February of 2015 and 2014. Average Days on Market (Listing to Contract) for properties sold during the month 120 3 Mo Avg 99 100 72 80 70 60 40 20 0 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 A M J J A S O N D J F 13 14 15 16 Selling Price per Square Foot 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 February 2016 Selling Price per Square Foot of $114 was down 7.1% from $122 last month and down 11.6% from 129 in February of last year. Average Selling Price per Square Foot for properties that sold during the month 150 145 140 135 130 125 120 115 110 105 100 3 Mo Avg 129 114 105 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 A M J J A S O N D J F 13 14 15 16 Selling Price versus Listing Price Ratio Selling Price vs Original Listing 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 February 2016 Selling Price vs Original List Price of 97.9% was down from 98.3% last month and up from 97.2% in February of last year. Avg Selling Price divided by Avg Listing Price for sold properties during the month 100% 99% 3 Mo Avg 98.5% 99% 97.9% 98% 97.2% 98% 97% 97% 96% 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 A M J J A S O N D J F 13 14 15 16 Inventory / New Listings / Sales 900 800 This last view of the market combines monthly inventory of Properties for sale along with New Listings 700 600 and Sales. The graph shows the basic annual seasonality of the market as well as the relationship 500 between these items. The number of New Listings in 400 February 2016 was 226, up 58.0% from 143 last month 300 and up 29.1% from 175 in February of last year. 200 100 0 Inventory / New Listings / Sales New Listings Sales 535 549 605 622 617 687 704 676 622 588 559 550 611 685 728 803 843 819 780 722 655 602 589 577 633 706 768 784 794 778 754 695 616 559 501 486 Inventory 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 A M J J A S O N D J F 13 14 15 16 Copyright © Coldwell Banker | Price Range: All | Property Types: SFH - Condo Data is provided courtesy of Metropolitan Regional Information Services Incorporated, The Coastal Association of Realtors MLS and Sussex County of Realtors MLS 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. c o l dw el l b a n k er h o m es.c o m | 75

MA ARCHIVED February 2016 | Page 75