FL ARCHIVED May 2017 | Page 84

Market Action Report City: Fort Myers May 2017 Fort Myers 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 May was 81, up 5.2% from 77 days last month and up 6.6% from 76 days in May of last year. The May 2017 DOM was at a mid level compared with May of 2016 and 2015. 3 Mo Avg 100 90 80 81 76 73 70 60 50 40 30 20 10 0 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 J A S O N D J F M A M 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 May 2017 Selling Price per Square Foot of $145 was down 1.2% from $146 last month and up 3.1% from 140 in May of last year. 150 145 140 135 130 125 120 115 110 105 100 3 Mo Avg 145 140 128 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 J A S O N D J F M A M 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 May 2017 Selling Price vs Original List Price of 93.2% was down from 93.6% last month and up from 93.1% in May of last year. 3 Mo Avg Avg Selling Price divided by Avg Listing Price for sold properties during the month 95% 95% 94% 93.5% 94% 93.2% 93.1% 93% 93% 92% 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 J A S