FL ARCHIVED March 2017 | Page 146

Merritt Island Community Information | School District

Merritt Island 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 March was 59 , down 16.9 % from 71 days last month and up 47.5 % from 40 days in March of last year . The March 2017 DOM was at a mid level compared with March of 2016 and 2015 .
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 94.1 % was up from 93.0 % last month and down from 95.9 % 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 124 , up 11.7 % from 111 last month and up 9.7 % from 113 in March of last year .
100 90 80 70 60 50 40 30 20 10 0
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
190
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
170
more normalized indicator on the direction of Property values .
The March 2017 Selling Price per Square Foot of $ 155 was up
150
14.6 % from $ 136 last month and up 20.6 % from 129 in March of
130
last year .
110
90 70 50
97 % 96 % 95 % 94 % 93 % 92 % 91 % 90 % 89 % 88 % 87 %
500 450 400 350 300 250 200 150 100 50 0
Days On Market for Sold Properties
63
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
114
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 versus Listing Price Ratio
94.1 %
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
437
419
340 326 331 316 301
Avg Selling Price divided by Avg Listing Price for sold properties during the month
330 320
363 388 375 364 382 342 345
320 287 293 306 316 314 298
40
129
95.9 %
293 288 271 292 288 262 255 250 255
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
263 255 247
59
155
94.1 %
269
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