Florida Market Viewpoint April 2017 - Page 82

Market Action Report City: Cape Coral April 2017 Cape Coral 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 74, down 6.3% from 79 days last month and up 7.2% from 69 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 80 69 70 74 69 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 $147 was up 0.7% from $146 last month and up 8.7% from 135 in April of last year. 3 Mo Avg 147 150 145 140 135 130 125 120 115 110 105 100 135 123 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 94.3% was down from 94.8% last month and down from 95.0% in April of last year. 3 Mo Avg Avg Selling Price divided by Avg Listing Price for sold properties during the month 97% 96% 95.0% 95% 94.3% 94.3% 94% 93% 92% 91% 90% 89% 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 3,000 1,500 2,000 2,500 This last view of the market combines monthly inventory of Properties for sale along w ith 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 646, down 18.6% from 794 last month and down 5.7% from 685 in April of last year. 1,000 500 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. 82 | c o l d w e l l b a n k e r h o m e s . c o m