FL ARCHIVED February 2017 | Page 144

Melbourne Community Information | School District

Melbourne Community Information | School District

Market Time
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The average Days On Market ( DOM ) shows how many days the
average Property is on the market before it sells . An upward
70
trend in DOM tends to indicate a move towards more of a
Buyer ' s market , a downward trend a move towards more of a
60
Seller ' s market . The DOM for February was 58 , up 7.4 % from 54
50
days last month and up 13.7 % from 51 days in February of last
year . The February 2017 DOM was at a mid level compared with
40
February of 2016 and 2015 .
30
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 $ 127 was down 1.6 % from $ 129 last month and up 16.5 % from 109 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 95.3 % was up from 94.9 % last month and up from 94.8 % 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 257 , down 17.1 % from 310 last month and down 15.5 % from 304 in February of last year .
20 10
Days On Market for Sold Properties
61
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
Selling Price per Square Foot
3 Mo Avg
150 140 130 120 110 100 90 80 70 60 50
97 % 96 % 95 % 94 % 93 % 92 % 91 % 90 %
98
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
Selling Price versus Listing Price Ratio
93.9 %
89 %
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
900 800 700 600 500 400 300 200 100
0
769
736 774 763 759 704 671
Avg Selling Price divided by Avg Listing Price for sold properties during the month
688
681 631 642 648 664 660 663 665 643 622 624 659 676 667 686
51
109
94.8 %
670 634 641
592 652 635 605 583 608
3 Mo Avg
3 Mo Avg
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
615 578 565
58
127
95.3 %
523
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