CAR ARCHIVED March 2017 | Page 23

Mecklenburg Community Information | School District

Mecklenburg Community Information | School District

Market Time
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The average Days On Market ( DOM ) shows how many days the
average Property is on the market before it sells . An upward
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trend in DOM tends to indicate a move towards more of a
Buyer ' s market , a downward trend a move towards more of a
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Seller ' s market . The DOM for March was 41 , down 14.6 % from
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48 days last month and down 26.8 % from 56 days in March of
last year . The March 2017 DOM was at its lowest level compared
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with March of 2016 and 2015 .
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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 $ 139 was up 7.2 % from $ 130 last month and up 8.9 % from 128 in March 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 March 2017 Selling Price vs Original List Price of 98.0 % was up from 97.4 % last month and up from 96.7 % in March of last year .
20 10 0
150 145 140 135 130 125 120 115 110 105 100
99 % 98 % 97 % 96 % 95 % 94 % 93 %
Days On Market for Sold Properties
66
A
M J
J
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S O N D
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F M A M J
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S O N D
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F M A M J
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S O N D
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F M
14
15
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Selling Price per Square Foot
119
A
M J
J
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S O N D
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F M A M J
J
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S O N D
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F M A M J
J
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S O N D
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F M
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Selling Price versus Listing Price Ratio Avg Selling Price divided by Avg Listing Price for sold properties during the month
95.8 %
56
128
96.7 %
3 Mo Avg
3 Mo Avg
3 Mo Avg
41
139
98.0 %
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 2,640 , up 28.6 % from 2,053 last month and up 7.3 % from 2,460 in March of last year .
92 %
7,000 6,000 5,000 4,000 3,000 2,000 1,000
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M J
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A S O N D
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F M A M J
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A S O N D
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F M A M J
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A S O N D
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F M
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5,676 5,776 5,744 5,661 5,516 5,322 5,134
4,762 4,235 4,065
Inventory / New Listings / Sales
4,097 4,340 4,488 4,565 4,538 4,674 4,526 4,429 4,302
3,883 3,417 3,372 3,247 3,465 3,640 3,822 3,919 3,966 3,882 3,846 3,643
3,278 2,800 2,677 2,727 2,818
0
A
M J
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A S O N D
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F M A M J
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A S O N D
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F M A M J
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A S O N D
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F M
14
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