FL ARCHIVED August 2017 | Page 142

Merritt Island Community Information | School District

Merritt Island Community Information | School District

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 August was 49 , up 28.9 % from 38 days last month and down 15.5 % from 58 days in August of last year . The August 2017 DOM was at its lowest level compared with August of 2016 and 2015 .
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 August 2017 Selling Price per Square Foot of $ 157 was up 3.9 % from $ 151 last month and up 13.0 % from 139 in August of last year .
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 August 2017 Selling Price vs Original List Price of 94.6 % was down from 95.2 % last month and up from 93.2 % in August of last year .
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 August 2017 was 129 , up 6.6 % from 121 last month and up 24.0 % from 104 in August of last year .
100 90 80 70 60 50 40 30 20 10 0
200 190 180 170 160 150 140 130 120 110 100
97 % 96 % 95 % 94 % 93 % 92 % 91 % 90 % 89 % 88 %
450 400 350 300 250 200 150 100 50 0
Days On Market for Sold Properties
55
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 M J
J
A
14
15
16
17
Selling Price per Square Foot
3 Mo Avg
119
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 M J
J
A
14
15
16
17
Selling Price versus Listing Price Ratio
95.2 %
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 M J
J
A
14
15
16
17
Inventory / New Listings / Sales
316
301 330 320
363 388 375
Avg Selling Price divided by Avg Listing Price for sold properties during the month
364
382
342 345
320 287 293 306 316 314 298 293 288 272 294 290
58
139
93.2 %
264 257 250 257 265 259 258 283 284
3 Mo Avg
3 Mo Avg
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 M J
J
A
14
15
16
17
309 314 310
49
157
94.6 %
297
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