Talega Market Sta s cs 2014 - 2016
SCHomeReporter.com
Property Sales
December Property sales were 20, up 53.8% from 13 in December of 2015 and 17.6% higher than the 17 sales last month. December 2016 sales were at their highest level compared to December of 2015 and 2014. December YTD sales of 253 are running 6.3% ahead of last year's year-to-date sales of 238.
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Prices
The Median Sales Price in December was $935,000, up 6.3% from $879,900 in December of 2015 and up 6.9% from $875,000 last month. The Average Sales Price in December was $928,987, down -6.8% from $996,952 in December of 2015 and down -2.2% from $950,029 last month. December 2016 ASP was at the lowest level compared to December of 2015 and 2014.
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Inventory & MSI
The Total Inventory of Properties available for sale as of December was 41, down -16.3% from 49 last month and down -18.0% from 50 in December of last year. December 2016 Inventory was at the lowest level compared to December of 2015 and 2014.
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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 December was 119, up 112.5% from 56 days last month and up 91.9% from 62 days in December of last year. The December 2016 DOM was at its highest level compared with December of 2015 and 2014.
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 December 2016 Selling Price per Square Foot of $306 was down -8.7% from $335 last month and down -8.1% from $333 in December of last year.
5 Bedrooms - 3.5 Bathrooms - 3,250 SQFT Selling Price vs Listing Price
The Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their 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 December 2016 Selling Price vs List Price of 97.9% was down from 98.3% last month and down from 99.8% in December of last year.
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 December 2016 was 8, down -27.3% from 11 last month and down -11.1% from 9 in December of last year.
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