Florida Market Viewpoint April 2017 - Page 137

Market Action Report City: West Palm Beach April 2017 West 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 83, up 2.5% from 81 days last month and down 5.7% from 88 days in April of last year. The April 2017 DOM was at its lowest level compared with April of 2016 and 2015. 3 Mo Avg 120 100 92 88 83 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 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 $148 was up 4.0% from $142 last month and up 14.5% from 129 in April of last year. 3 Mo Avg 148 150 145 140 135 130 125 120 115 110 105 100 129 126 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 92.8% was down from 93.0% last month and up from 92.5% in April of last year. 3 Mo Avg Avg Selling Price divided by Avg Listing Price for sold properties during the month 95% 94% 92.7% 93% 92.8% 92.5% 92% 91% 90% 89% 88% 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 1,500 Inventory / New Listings / Sales Inventory / New Listings / Sales This last view of the market combines monthly inventory of 3,000 Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the 2,500 relationship between these items. The number of New Listings in April 2017 was 621, down 7.0% from 668 last month and down 2,000 15.6% from 736 in April of last year. 1,000 500 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 es tate transaction. c o l dw el l b a n k er h o m es . c o m | 137