FL ARCHIVED May 2017 | Page 131

Market Action Report City: Palm Beach May 2017 Palm Beach Agent Name Title Phone Website Other Community Information | School District Price Range: All | Properties: SFH - Con Days On Market for Sold Properties 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 May was 173, up 28.1% from 135 days last month and up 44.2% from 120 days in May of last year. The May 2017 DOM was at a mid level compared with May of 2016 and 2015. 3 Mo Avg 250 200 173 139 150 120 100 50 0 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 A M 14 15 16 17 Selling Price per Square Foot 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 May 2017 Selling Price per Square Foot of $628 was down 22.5% from $811 last month and up 14.1% from 551 in May of last year. 850 800 750 700 650 600 550 500 450 400 350 3 Mo Avg 628 551 488 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 A M 14 15 16 17 Selling Price versus Listing Price Ratio 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 May 2017 Selling Price vs Original List Price of 86.2% was down from 87.2% last month and down from 89.1% in May of last year. 3 Mo Avg Avg Selling Price divided by Avg Listing Price for sold properties during the month 94% 92% 90% 88% 86% 84% 82% 80% 78% 76% 74% 90.7% 89.1% 86.2% 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 A M 14 15 16 17 Inventory / New Listings / Sales Inventory / New Listings / Sales 300 400 500 600 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 May 2017 was 41, down 40.6% from 69 last month and down 16.3% from 49 in May of last year. 200 100 0 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 A M 14 15 16 17 Copyright © Coldwell Banker Residential Real Estate / Coldwell Banker United, Realtors | Price Range: All | Property Types: SFH - Con Data is provided courtesy of Greater Fort Lauderdale REALTORS, REALTOR Association of Martin County, Miami Association of REALTORS, My Florida Regional MLS, Naples Area Board of REALTORS, REALTORS Association of the Palm Beaches, Space Coast Association of REALTORS does not warrant or guarantee the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction. c o l dw el l b a n k er h o m es . c o m | 131