FL ARCHIVED January 2018 | Page 140

Market Action Report City: Melbourne Melbourne January 2018 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 January was 71, up 22.4% from 58 days last month and up 31.5% from 54 days in January of last year. The January 2018 DOM was at a mid level compared with January of 2017 and 2016. 3 Mo Avg 80 71 70 58 60 54 50 40 30 20 10 0 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 J A S O N D J 15 16 17 18 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 January 2018 Selling Price per Square Foot of $133 was down 5.9% from $142 last month and up 2.9% from 129 in January of last year. 150 140 130 120 110 100 90 80 70 60 50 3 Mo Avg 133 129 111 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 J A S O N D J 15 16 17 18 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