Florida Market Viewpoint April 2017 - Page 107

Market Action Report City: Coconut Grove April 2017 Coconut Grove Agent Name Title Phone Website Other Community Information | School District Price Range: All | Properties: SFH - Con Days On Market for Sold Properties 3 Mo Avg Market Time 250 The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward 200 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 157, up 42.7% from 110 150 days last month and up 44.0% from 109 days in April of last year. The April 2017 DOM was at a mid level compared with April of 100 2016 and 2015. 157 109 52 50 0 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 J F M A 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 550 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 500 more normalized indicator on the direction of Property values. The April 2017 Selling Price per Square Foot of $480 was down 450 1.8% from $489 last month and down 0.6% from 483 in April of last year. 400 3 Mo Avg 483 480 384 350 300 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 J F M A 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 April 2017 Selling Price vs Original List Price of 89.0% was down from 91.3% last month and down from 93.4% in April of last year. 3 Mo Avg Avg Selling Price divided by Avg Listing Price for sold properties during the month 120% 100% 93.4% 90.1% 89.0% 80% 60% 40% 20% 0% 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 J F M A 14 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 April 2017 was 19, down 9.5% from 21 last month and down 5.0% from 20 in April of last year. 50 0 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 J F M A 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 | 107