FL ARCHIVED July 2017 - Page 115

Market Action Report City: Miami Beach July 2017 Miami Beach Agent Name Title Phone Website Other Community Information | School District Price Range: All | 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 Sell er's market. The DOM for July was 132, down 5.0% from 139 days last month and up 11.9% from 118 days in July of last year. The July 2017 DOM was at a mid level compared with July of 2016 and 2015. 3 Mo Avg 180 160 132 131 140 118 120 100 80 60 40 20 0 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 M A M J J 14 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 July 2017 Selling Price per Square Foot of $468 was down 22.5% from $604 last month and down 14.2% from 546 in July of last year. 650 630 610 590 570 550 530 510 490 470 450 3 Mo Avg 546 498 468 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 M A M J J 14 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 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 July 2017 Selling Price vs Original List Price of 89.4% was up from 88.3% last month and equal to 89.4% in July of last year. 3 Mo Avg Avg Selling Price divided by Avg Listing Price for sold properties during the month 96% 94% 92% 91.0% 89.4% 90% 89.4% 88% 86% 84% 82% 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 M A M J J 14 15 16 17 Inventory / New Listings / Sales Inventory / New Listings / Sales 4,000 2,000 2,500 3,000 3,500 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 July 2017 was 470, down 5.8% from 499 last month and up 2.2% from 460 in July of last year. 1,500 1,000 500 0 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 M A M J J 14 15 16 17 Copyright © Coldwell Banker Residential Real Estate / Coldwell Banker United, Realtors | Price Range: All | 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 REALTORS 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 | 115