MA ARCHIVED February 2016 | Page 73

Rappahannock

MARKET ACTION REPORT

County: Rappahannock

February 2016

Agent Name

Title
Phone
Website
Other

Community Information
Price Range: All | 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 76, down 78.1% from 347 days
last month and down 32.7% from 113 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 d uring the month

400
350
300
250
200
150
100
50
0

144

3 Mo Avg

113

76

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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 $129
was down 33.5% from $195 last month and up 1.3%
from 128 in February of last year.

Average Selling Price per Square Foot for properties that sold during the month

350

3 Mo Avg

300
250
177

200

129

128

150
100
50

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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
95.2% was down from 98.7% last month and up from
94.2% in February of last year.

Avg Selling Price divided by Avg Listing Price for sold properties during the month

120%

94.7%

100%

3 Mo Avg

95.2%

94.2%

80%
60%
40%
20%
0%

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Inventory / New Listings / Sales
140

0

New Listings

Sales

87
83
84
86
100
93
92
97
108
113
119
105
91
81
78
85
102
103
109
101
105
103
101
96
87
74
72

Inventory

98
103
105
110
110
112
108
105

This last view of the market combines monthly
120
inventory of Properties for sale along with New Listings
100
and Sales. The graph shows the basic annual
80
seasonality of the market as well as the relationship
between these items. The number of New Listings in
60
February 2016 was 10, up 66.7% from 6 last month and
40
up 25.0% from 8 in February of last year.
20

82

Inventory / New Listings / Sales

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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

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