Florida Market Viewpoint June 2017 - Page 89

Market Action Report City: Coral Springs June 2017 Coral Springs 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 44, down 10.2% from 49 days last month and down 51.1% from 90 days in June of last year. The June 2017 DOM was at its lowest level compared with June of 2016 and 2015. 100 3 Mo Avg 90 90 80 70 58 60 44 50 40 30 20 10 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 $161 was up 0.8% from $159 last month and up 9.2% from 147 in June of last year. 200 190 180 170 160 150 140 130 120 110 100 3 Mo Avg 161 147 139 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 97.2% was up from 96.5% last month and up from 97.0% in June of last year. 3 Mo Avg Avg Selling Price divided by Avg Listing Price for sold properties during the month 98% 97.2% 97.0% 97% 96.4% 96% 95% 94% 93% 92% 91% 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 400 600 800 1,000 1,200 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 264