FL ARCHIVED July 2017 - Page 72

Market Action Report City: Marco Island July 2017 Marco Island 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 July was 118, up 5.4% from 112 days last month and down 7.1% from 127 days in July of last year. The July 2017 DOM was at its lowest level compared with July of 2016 and 2015. 3 Mo Avg 200 180 154 160 140 127 118 120 100 80 60 40 20 0 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 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 July 2017 Selling Price per Square Foot of $342 was down 4.4% from $357 last month and down 7.6% from 370 in July of last year. 450 430 410 390 370 350 330 310 290 270 250 373 3 Mo Avg 370 342 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 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 July 2017 Selling Price vs Original List Price of 89.8% was down from