Florida Market Viewpoint April 2017 - Page 121

Market Action Report April 2017 Palm Beach County County: Palm 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 Seller's market. The DOM for April was 89, up 2.3% from 87 days last month and equal to 89 days in April of last year. The April 2017 DOM was at its lowest level compared with April of 2016 and 2015. 100 3 Mo Avg 97 95 89 90 89 85 80 75 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 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 $189 was up 2.5% from $184 last month and up 6.7% from 177 in April of last year. 200 190 180 170 160 150 140 130 120 110 100 3 Mo Avg 189 177 175 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 92.2% was down from 92.4% last month and down from 92.8% in April of last year. 3 Mo Avg Avg Selling Price divided by Avg Listing Price for sold properties during the month 94% 94% 92.8% 93% 93% 92.2% 92.2% 92% 92% 91% 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 10,000 12,000 14,000 16,000 18,000 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 3,792, down 11.5% from 4,284 last month and down 9.6% from 4,196 in April of last year. 8,000 6,000 4,000 2,000 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 | 121