Florida Market Viewpoint June 2017 - Page 131

Market Action Report June 2017 Palm Beach Gardens City: Palm Beach Gardens 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 102, up 3.0% from 99 days last month and equal to 102 days in June of last year. The June 2017 DOM was at its lowest level compared with June of 2016 and 2015. 3 Mo Avg 140 114 120 102 102 100 80 60 40 20 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 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 June 2017 Selling Price per Square Foot of $229 was up 4.6% from $219 last month and up 13.0% from 203 in June of last year. 250 240 230 220 210 200 190 180 170 160 150 3 Mo Avg 229 205 203 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 o r above 100% indicates more of a Seller's market. The June 2017 Selling Price vs Original List Price of 91.1% was down from 91.8% last month and down from 91.3% in June of last year. 3 Mo Avg Avg Selling Price divided by Avg Listing Price for sold properties during the month 95% 94% 93% 92% 91.4% 91.3% 91.1% 91% 90% 89% 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 1,000 900 800 700 600 500 400 300 200 100 0 Inventory / New Listings / Sales 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 June 2017 was 209, up 26.7% from 165 last month and up 9.4% from 191 in June of last year. 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 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 | 131