FL ARCHIVED April 2017 | Page 89

Market Action Report
April 2017
City: Key Biscayne
KEY
BISCAYNE
Agent Name
Title
Phone
Website
Other
Community Information | School District
Price Range: $1,000,000 and Up | 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 April was 162, up 11.0% from 146
days last month and up 43.4% from 113 days in April of last year.
The April 2017 DOM was at a mid level compared with April of
2016 and 2015.
3 Mo Avg
300
250
200
162
150
118
113
100
50
0
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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 April 2017 Selling Price per Square Foot of $823 was down
0.9% from $831 last month and down 3.4% from 852 in April of
last year.
3 Mo Avg
1,300
1,200
1,100
1,000
940
900
852
823
800
700
600
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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 April 2017 Selling Price vs Original List
Price of 90.4% was up from 87.6% last month and down from
91.1% in April of last year.
3 Mo Avg
Avg Selling Price divided by Avg Listing Price for sold properties during the month
120%
100%
91.1%
91.0%
90.4%
80%
60%
40%
20%
0%
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Inventory / New Listings / Sales
Inventory / New Listings / Sales
150
200
250
300
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 April 2017 was 32, down 34.7% from 49 last month and up
10.3% from 29 in April of last year.
100
50
0
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Copyright © Coldwell Banker Residential Real Estate / Coldwell Banker United, Realtors | Price Range: $1,000,000 and Up | Property Types: SFH - Con
Data is provided courtesy of Greater Fort Lauderdale REALTORS, REALTOR Association of Martin County, Miami Association of REALTORS, My