MA ARCHIVED February 2016

Sussex MARKET ACTION REPORT February 2016 Agent Name County: Sussex Title Phone Website Other Community Information Price Range: $1,000,000 and Up | 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 141, down 4.1% from 147 days last month and down 58.3% from 338 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 450 400 350 300 250 200 150 100 50 0 3 Mo Avg 338 238 141 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 $786 was up 66.7% from $472 last month and up 53.8% from 511 in February of last year. Average Selling Price per Square Foot for properties that sold during the month 850 3 Mo Avg 786 750 650 511 550 395 450 350 250 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 88.4% was down from 114.5% last month and down from 89.9% in February of last year. 140% Avg Selling Price divided by Avg Listing Price for sold properties during the month 3 Mo Avg 120% 90.3% 100% 89.9% 88.4% 80% 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 Inventory / New Listings / Sales 250 This last view of the market combines monthly inventory of Properties for sale along with New Listings 200 and Sales. The graph shows the basic annual 150 seasonality of the market as well as the relationship between these items. The number of New Listings in 100 February 2016 was 27, up 58.8% from 17 last month and up 58.8% from 17 in February of last year. 50 0 Inventory New Listings Sales 151 168 179 175 171 168 163 159 147 127 134 143 148 163 165 168 170 169 174 172 159 142 143 147 157 165 166 181 192 189 193 197 185 167 169 180 Inventory / New Listings / Sales 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: $1,000,000 and Up | 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. 44 | c o l d w e l l b a n k e r h o m e s . c o m

MA ARCHIVED February 2016 | Page 44