Florida Market Viewpoint April 2017 - Page 14

Market Action Report City: Plant City Plant City April 2017 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 49, up 53.1% from 32 days last month and down 23.4% from 64 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 80 71 64 60 49 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 $110 was up 7.6% from $102 last month and up 16.4% from 95 in April of last year. 150 140 130 120 110 100 90 80 70 60 50 3 Mo Avg 110 95 85 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 95.8% was up from 95.0% last month and up from 94.9% in April of last year. 3 Mo Avg Avg Selling Price divided by Avg Listing Price for sold properties during the month 100% 98% 95.2% 96% 95.8% 94.9% 94% 92% 90% 88% 86% 84% 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 350 100 150 200 250 300 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 97, up 3.2% from 94 last month and up 19.8% from 81 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. 14 | c o l d w e l l b a n k