Florida Market Viewpoint April 2017 - Page 113

Market Action Report City: Key Biscayne April 2017 Key Biscayne 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 Seller's market. The DOM for April was 140, down 10.3% from 156 days last month and up 30.8% from 107 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 250 200 140 150 107 104 100 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 1,000 direction of Property values. Since Median Sales Price and 950 Average Sales price can be impacted by the 'mix' of high or low 900 end Properties in the market, the selling price per square foot is a 850 more normalized indicator on the direction of Property values. The April 2017 Selling Price per Square Foot of $677 was up 5.7% 800 from $640 last month and down 2.3% from 693 in April of last 750 year. 700 650 600 550 500 699 3 Mo Avg 693 677 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 mar ket exists, a ratio at or above 100% indicates more of a Seller's market. The April 2017 Selling Price vs Original List Price of 91.6% was up from 87.4% last month and down from 92.6% in April of last year. 3 Mo Avg Avg Selling Price divided by Avg Listing Price for sold properties during the month 102% 100% 98% 96% 94% 92% 90% 88% 86% 84% 82% 80% 92.6% 91.8% 91.6% 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 200 250 300 350 400 450 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 49, down 32.9% from 73 last month and down 9.3% from 54 in April of last year. 150 100 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 | 113