MA ARCHIVED July 2016 | Page 39

Wicomico Community Information

Wicomico Community Information

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 July was 114 , up 35.7 % from 84 days last month and up 21.3 % from 94 days in July of last year . The July 2016 DOM was at a mid level compared with July of 2015 and 2014 .
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94
114
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 July 2016 Selling Price per Square Foot of $ 86 was down 1.9 % from $ 88 last month and down 5.5 % from 91 in July of last year .
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 July 2016 Selling Price vs Original List Price of 91.7 % was up from 91.1 % last month and down from 93.8 % in July of last year .
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Selling Price per Square Foot
3 Mo Avg
100 95 90 85 80 75 70 65 60 55 50
100 % 95 % 90 % 85 % 80 % 75 %
87
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Selling Price versus Listing Price Ratio Avg Selling Price divided by Avg Listing Price for sold properties during the month
90.9 %
91
93.8 %
3 Mo Avg
86
91.7 %
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 July 2016 was 122 , down 14.7 % from 143 last month and down 21.8 % from 156 in July of last year .
70 %
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Inventory / New Listings / Sales
700 600 500 400
624 616 635 614 584 563 551 561
609 638 652 644 647 637 627 621 581 591 597 596 633 645 659 648 642 647 627 607
578 551 572 572 573 569 552 528
300 200 100
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