MA ARCHIVED February 2016

County: Manassas Park CityManassas Park MARKET ACTION REPORT February 2016 Agent Name Title Phone Website Other Community Information Price Range: All | Properties: SFH - Condo Days On Market for Sold Properties Market Time 90 80 70 60 50 40 30 20 10 0 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 68, up 61.9% from 42 days last month and up 70.0% from 40 days in February of last year. The February 2016 DOM was at a mid level compared with February of 2015 and 2014. 3 Mo Avg Average Days on Market (Listing to Contract) for properties sold during the month 68 44 40 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 Average Selling Price per Square Foot for properties that sold during the month 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 $136 was down 19.1% from $168 last month and down 11.8% from 155 in February of last year. 3 Mo Avg 240 220 200 180 155 160 136 132 140 120 100 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 98.7% was up from 96.5% last month and down from 99.0% in February of last year. Avg Selling Price divided by Avg Listing Price for sold properties during the month 102% 3 Mo Avg 101% 100% 99.0% 99% 98% 98.7% 97.2% 97% 96% 95% 94% 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 New Listings Sales 31 28 35 29 16 27 37 37 35 21 23 21 20 22 13 15 22 19 20 24 17 17 18 17 29 34 36 36 36 43 Inventory 25 23 20 23 23 22 50 45 This last view of the market combines monthly inventory of Properties for sale along with New Listings 40 35 and Sales. The graph shows the basic annual 30 seasonality of the market as well as the relationship 25 between these items. The number of New Listings in February 2016 was 11, down 21.4% from 14 last month 20 15 and equal to 11 in February of last year. 10 5 0 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: 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 | 69

MA ARCHIVED February 2016 | Page 69