FL ARCHIVED February 2017 | Page 148

Palm Bay Community Information | School District

Palm Bay 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 45 , down 11.8 % from 51 days last month and down 16.7 % from 54 days in February of last year . The February 2017 DOM was at its lowest level compared with February of 2016 and 2015 .
70
60
50
40
30
59
54
45
20
10
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 $ 99 was up 2.2 % from $ 97 last month and up 17.1 % from 84 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 94.8 % was down from 95.8 % last month and down from 95.0 % 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 240 , down 5.5 % from 254 last month and up 3.4 % from 232 in February of last year .
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Selling Price per Square Foot
3 Mo Avg
100
99
95
90
84
85
80
75
70
69
65
60
55
50
98 % 97 % 96 % 95 % 94 % 93 % 92 % 91 % 90 %
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Selling Price versus Listing Price Ratio
92.1 %
95.0 % 94.8 %
89 %
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Inventory / New Listings / Sales
700 600 500 400 300 200 100
600 567 589 584 572 596
553
Avg Selling Price divided by Avg Listing Price for sold properties during the month
542 545 540 563
509 463 444 432 432 450 437 421 440 450 436
3 Mo Avg
489 450 458 434 416 426 429 442 459 468 488 458 449 422
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