Florida Market Viewpoint April 2017 - Page 65

Market Action Report City: Sarasota April 2017 St. Armands 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 77, equal to 77 days last month and up 16.7% from 66 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 100 90 77 80 70 70 66 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 $209 was up 2.0% from $205 last month and up 9.7% from 191 in April of last year. 250 240 230 220 210 200 190 180 170 160 150 3 Mo Avg 209 191 174 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 93.2% was down from 93.6% last month a