Florida Market Viewpoint April 2017 - Page 59

Market Action Report City: Longboat Key April 2017 Longboat Key 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 131, up 15.9% from 113 days last month and up 61.7% from 81 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 250 200 156 150 131 100 81 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 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 $437 was up 0.8% from $434 last month and down 16.5% from 524 in April of last year. 550 530 510 490 470 450 430 410 390 370 350 3 Mo Avg 524 437 414 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 88.8% was down from 92.2% last month and down from 93.6% in April of last year. 3 Mo Avg Avg Selling Price divided by Avg Listing Price for sold properties during the month 98% 96% 93.6% 94% 92% 89.2% 90% 88.8% 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 17 500 450 400 350 300 250 200 150 100 50 0 Inventory / New Listings / Sales Inventory / New Listings / Sales 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 54, down 34.9% from 83 last month and down 20.6% from 68 in April of last year. 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 A ssociation 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 | 59