FL ARCHIVED March 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
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Seller ' s market . The DOM for March was 45 , down 23.7 % from
50
59 days last month and down 16.7 % from 54 days in March of
last year . The March 2017 DOM was at its lowest level compared
40
with March 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 March 2017 Selling Price per Square Foot of $ 125 was down 1.8 % from $ 127 last month and up 10.2 % from 114 in March 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 March 2017 Selling Price vs Original List Price of 95.0 % was up from 94.8 % last month and down from 95.5 % in March 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 March 2017 was 311 , up 19.2 % from 261 last month and down 3.1 % from 321 in March of last year .
20 10
Days On Market for Sold Properties
55 54
0
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 M
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 %
99
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 M
14
15
16
17
114
Selling Price versus Listing Price Ratio
94.7 %
89 %
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 M
14
15
16
17
Inventory / New Listings / Sales
900 800 700 600 500 400 300 200 100
0
736 774 763 759 704 671 688
Avg Selling Price divided by Avg Listing Price for sold properties during the month
681 631 642 648 664 660 663 665 643 622 624 659 676 667 685 669
95.5 %
633 639
595 656 640 610 586 610 624
3 Mo Avg
3 Mo Avg
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 M
14
15
16
17
592 577 540
45
125
95.0 %
529
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