FL ARCHIVED February 2017 | Page 133

Community Information | School District

Palm Beach Gardens

Community Information | School District

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 93 , down 14.7 % from 109 days last month and down 2.1 % from 95 days in February of last year . The February 2017 DOM was at its lowest level compared with February of 2016 and 2015 .
140 120 100 80 60 40 20
Days On Market for Sold Properties
3 Mo Avg
99 95 93
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 $ 239 was up 2.9 % from $ 232 last month and up 18.4 % from 202 in February of last year .
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 93.7 % was up from 91.9 % last month and up from 92.9 % in February of last year .
0
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14
15
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Selling Price per Square Foot
3 Mo Avg
250 240 230 220 210 200 190 180 170 160 150
95 % 94 % 93 % 92 % 91 % 90 % 89 %
193
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202
Selling Price versus Listing Price Ratio Avg Selling Price divided by Avg Listing Price for sold properties during the month
92.3 %
92.9 %
3 Mo Avg
239
93.7 %
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 217 , equal to 217 last month and down 0.5 % from 218 in February of last year .
88 % 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 F 14
15 16
17
Inventory / New Listings / Sales
1,000 900 800 700 600 500 400 300 200 100
0 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 F 14
15 16
17
918 861 885 859 799 778 779 830 806 776
861 905 864 808 809 787 748 691 691 737 728 716
813 863 885 906 858 828 795 766 768 762 762 731 724
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