Florida Market Viewpoint June 2017 - Page 111

Market Action Report City: Key Biscayne June 2017 Key Biscayne 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 June was 155, down 11.4% from 175 days last month and up 58.2% from 98 days in June of last year. The June 2017 DOM was at a mid level compared with June of 2016 and 2015. 3 Mo Avg 250 200 155 150 100 98 82 50 0 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 M 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 1,000 direction of Property values. Since Median Sales Price and 950 Average Sales price can be impacted by the 'mix' of high or low 900 end Properties in the market, the selling price per square foot is a 850 more normalized indicator on the direction of Property values. The June 2017 Selling Price per Square Foot of $709 was up 800 16.6% from $608 last month and up 9.8% from 645 in June of 750 last year. 700 650 600 550 500 3 Mo Avg 709 697 645 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 M 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 June 2017 Selling Price vs Original List Price of 89.3% was up from 89.1% last month and down from 93.3% in June of last year. 3 Mo Avg Avg Selling Price divided by Avg Listing Price for sold properties during the month 102% 100% 98% 96% 94% 92% 90% 88% 86% 84% 82% 80% 93.5% 93.3% 89.3% 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 M J 14 15 16 17 Inventory / New Listings / Sales Inventory / New Listings / Sales 200 250 300 350 400 450 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 June 2017 was 50, down 13.8% from 58 last month and equal to 50 in June of last year. 150 100 50 0 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 M 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 Are a 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 | 111