FL ARCHIVED December 2017 | Page 107

Market Action Report
December 2017
City: West Palm PALM
Beach
WEST
BEACH
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 December was 104, down 48.3%
from 201 days last month and down 63.9% from 288 days in
December of last year. The December 2017 DOM was at its
lowest level compared with December of 2016 and 2015.
3 Mo Avg
500
450
400
350
288
300
250
200
132
150
104
100
50
0
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 M A M J J A S O N D
15
16
17
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 December 2017 Selling Price per Square Foot of $2,413 was
up 317.3% from $578 last month and up 379.8% from 503 in
December of last year.
3 Mo Avg
2,413
2,300
1,800
1,300
800
503
395
300
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 M A M J J A S O N D
15
16
17
Selling Price versus Listing Price Ratio
Selling Price vs Original Listings Price
The Selling Price vs Original Listing Price reveals the average
120%
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 100%
of a Seller's market. The December 2017 Selling Price vs
80%
Original List Price of 94.4% was up from 88.6% last month and
up from 88.9% in December of last year.
60%
3 Mo Avg
Avg Selling Price divided by Avg Listing Price for sold properties during the month
94.7%
94.4%
88.9%
40%
20%
0%
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 M A M J J A S O N D
15
16
17
Inventory / New Listings / Sales
Inventory / New Listings / Sales
250
100
150
200
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 2017 was 19, equal to 19 last month and
down 20.8% from 24 in December of last year.
50
0
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 M A M J J A S O N D
15
16
17
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 Florida Regional MLS, Naples Area Board of REALTORS, REALTORS Association of the Palm Beaches, Space Coast Association of REA
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.
Coldwell Banker Global Luxury SM | 107