Florida Market Viewpoint June 2017 - Page 140

Market Action Report City: Cocoa Beach Cocoa Beach June 2017 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 68, down 29.2% from 96 days last month and down 18.1% from 83 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 160 140 120 100 87 83 80 68 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 $214 was down 0.1% from $214 last month and up 15.2% from 186 in June of last year. 3 Mo Avg 240 214 220 194 200 186 180 160 140 120 100 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 93.8% was up from 92.6