FL ARCHIVED February 2017 | Page 14

Plant City Community Information | School District

Plant City 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 44 , down 21.4 % from 56 days last month and down 46.3 % from 82 days in February of last year . The February 2017 DOM was at its lowest level compared with February of 2016 and 2015 .
120
100
80
60
40
75
82
44
20
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 $ 104 was up 6.1 % from $ 98 last month and up 11.7 % from 93 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 96.0 % was up from 94.7 % last month and down from 97.0 % in February of last year .
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 89 , up 3.5 % from 86 last month and down 2.2 % from 91 in February of last year .
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Selling Price per Square Foot
3 Mo Avg
150 140 130 120 110 100 90 80 70 60 50
100 % 98 % 96 % 94 % 92 % 90 % 88 % 86 %
71
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Selling Price versus Listing Price Ratio
92.8 %
84 %
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Inventory / New Listings / Sales
350 300 250 200 150 100 50
297 287 281 282 290 288 289
Avg Selling Price divided by Avg Listing Price for sold properties during the month
279 283 289 271 265
249
270 243 256 268 248 236 239 233
190
192
93
97.0 %
188 176 171 185 186 198 206 180 181
3 Mo Avg
188 164 165
104
96.0 %
156
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14 | c o l d w e l l b a n k e r h o m e s . c o m