Florida Market Viewpoint April 2017 - Page 34

Market Action Report City: St Petersburg St. Petersburg 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 56, up 9.8% from 51 days last month and down 11.1% from 63 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 90 80 68 70 63 56 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 $162 was down 3.3% from $168 last month and up 13.7% from 143 in April of last year. 200 190 180 170 160 150 140 130 120 110 100 3 Mo Avg 162 143 139 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 94.8% was up from 94.0% last month and up from 94.3% in April of last year. 3 Mo Avg Avg Selling Price divided by Av