Florida Market Viewpoint June 2017 - Page 40

Market Action Report City: Lakeland Lakeland 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 3 Mo Avg 120 The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward 100 trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a 80 Seller's market. The DOM for June was 57, up 1.8% from 56 days last month and down 14.9% from 67 days in June of last year. 60 The June 2017 DOM was at its lowest level compared with June of 2016 and 2015. 40 77 67 57 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 $103 was up 2.3% from $101 last month and up 9.4% from 94 in June of last year. 150 14 0 130 120 110 100 90 80 70 60 50 3 Mo Avg 103 94 88 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 95.5% was down from 96.3% last month and down from 96.0% in June of last year. 3 Mo Avg Avg Selling Price divided by Avg Listing Price for sold properties during the month 98% 97% 96% 95% 94% 93% 92% 91% 90% 89% 88% 96.0% 95.5% 93.4% 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 600 800 1,000 1,200 1,400 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 365, down 7.1% from 393 last month and down 6.2% from 389 in June of last year. 400 200 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 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. 40 | c o l d w e l l b a n k e r h o m e s . c o m