CAR ARCHIVED March 2017 | Page 32

Market Action Report County: Berkeley March 2017 Berkeley 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 March was 51, down 15.0% from 60 days last month and down 16.4% from 61 days in March of last year. The March 2017 DOM was at its lowest level compared with March of 2016 and 2015. 3 Mo Avg 100 90 80 72 70 61 60 51 50 40 30 20 10 0 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 M 14 15 16 17 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 March 2017 Selling Price per Square Foot of $121 was up 2.4% from $118 last month and up 6.0% from 114 in March of last year. 150 145 140 135 130 125 120 115 110 105 100 3 Mo Avg 121 115 114 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 M 14 15 16 17 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 March 2017 Selling Price vs Original List Price of 97.3% was up from 96.9% last month and down from 97.5% in March of last year. 3 Mo Avg Avg Selling Price divided by Avg Listing Price for sold properties during the month 99% 99% 98% 98% 97% 97% 96% 96% 95% 95% 94% 94% 97.5% 97.3% 97.3% 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 M 14 15 16 17 Inventory / New Listings / Sales Inventory / New Listings / Sales 600 800 1,000 1,200 1,400 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 520, up 14.3% from 455 last month and up 8.3% from 480 in March of last year. 400 200 0 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 M 14 15 16 17 Copyright © Coldwell Banker Residential Brokerage | Price Range: All | Property Types: SFH - Con Data is provided courtesy of Charleston Trident Association of REALTORS, Piedmont Regional Association of REALTORS and may not reflect all relevant real estate activity. Coldwell Banker Residential Brokerage 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. 32 | c o l dw el l b a n k er h o m es . c o m