Florida Market Viewpoint April 2017 - Page 22

Market Action Report County: Pinellas Pinellas County 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 62, equal to 62 days last month and up 1.6% from 61 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 90 80 74 70 62 61 60 50 40 30 20 10 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 $171 was up 4.0% from $165 last month and up 13.9% from 150 in April of last year. 200 190 180 170 160 150 140 130 120 110 100 3 Mo Avg 171 150 140 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 96% amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of 95% 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 94.7% was up from 94.5% last month and up from 94.4% 94% in April of last year. 93% 3 Mo Avg Avg Selling Price divided by Avg Listing Price for sold properties during the month 94.7% 94.4% 93.1% 92% 91% 90% 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 4,000 5,000 6,000 7,000 8,000 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 2,322, down 13.4% from 2,682 last month and down 5.0% from 2,445 in April of last year. 3,000 2,000 1,000 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. 22 | c o l d w e l l b a n k e r h o m e s . c o m