Florida MVP - ARCHIVE July 2017 - Page 87

Market Action Report July 2017 Broward County County: Broward 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 July was 69, down 2.8% from 71 days last month and down 24.2% from 91 days in July of last year. The July 2017 DOM was at its lowest level compared with July of 2016 and 2015. 100 3 Mo Avg 91 90 80 72 69 70 60 50 40 30 20 10 0 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 M J J 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 July 2017 Selling Price per Square Foot of $183 was down 0.2% from $183 last month and up 12.0% from 163 in July of last year. 200 190 180 170 160 150 140 130 120 110 100 3 Mo Avg 183 163 156 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 M J J 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 July 2017 Selling Price vs Original List Price of 95.3% was up from 94.9% last month and down from 95.6% in July of last year. 3 Mo Avg Avg Selling Price divided by Avg Listing Price for sold properties during the month 96% 95.6% 96% 95.3% 95.1% 95% 95% 94% 94% 93% 93% 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 M J J 14 15 16 17 Inventory / New Listings / Sales Inventory / New Listings / Sales 8,000 10,000 12,000 14,000 16,000 18,000 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 July 2017 was 3,819, down 2.9% from 3,932 last month and up 1.8% from 3,753 in July of last year. 6,000 4,000 2,000 0 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 M J J 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. c o l dw el l b a n k er h o m es . c o m | 87