FL ARCHIVED February 2017 | Page 107

Coconut Grove Community Information | School District

Coconut Grove Community Information | School District

Days On Market for Sold Properties
3 Mo Avg
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 February was 184 , down 13.2 % from 212 days last month and up 109.1 % from 88 days in February of last year . The February 2017 DOM was at a mid level compared with February of 2016 and 2015 .
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88
184
59
50
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 February 2017 Selling Price per Square Foot of $ 508 was up 35.5 % from $ 375 last month and down 0.8 % from 512 in February of last year .
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Selling Price per Square Foot
3 Mo Avg
460
512 508
350
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 February 2017 Selling Price vs Original List Price of 85.3 % was down from 90.3 % last month and down from 91.4 % in February of last year .
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120 % 100 % 80 % 60 %
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Selling Price versus Listing Price Ratio Avg Selling Price divided by Avg Listing Price for sold properties during the month
94.2 % 91.4 %
3 Mo Avg
85.3 %
40 % 20 %
Inventory / New Listings / Sales 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 February 2017 was 13 , down 55.2 % from 29 last month and down 45.8 % from 24 in February of last year .
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Inventory / New Listings / Sales
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166 178 187 185 194 199 195 191 186 183 184 180 181 160 152 148 149 153 157 165 165
150 169 162 166 150 148 150 146 136 133 132 139 133 138 133
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