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South Florida Real Estate Trends

Thu Jun 25, 2009 by on Florida Real Estate

I am a subscriber to the South Florida Real Estate Newsletter written by Evan Rosen, a South Florida Realtor. Each month, Evan sends out a recap of the current real estate trends in South Florida (Palm Beach, Broward, Dade). This month included interesting statistics about the South Florida real estate landscape and compared current and past trends. Read Evan’s analysis of these graphs and to view the graphs, click on the links below.

All of this data has been download from the MLS South Florida residential market and compiled into graphs and statistics.

South Florida Real Estate Trend Charts
Sales Price To List Price Ratio
Number of Properties Sold
Highest Priced Home Sales
Number of Short Sales for Sale
Number of REO for Sale
Average Home Sales Price
Average Days Home for Sale on the Market
Number of South Florida Properties for Sale

Evan Rosen’s Analysis
I always try to let the statistics speak for themselves without giving too much input or opinion, certainly as it pertains to the future. I do however like to point out the highlights or low-lights from the stats or make note of anything I notice while researching and compiling the data that would not be readily observable to the reader.

In this month’s graphs and statistics, we see the continued trend of approximately six months now of level average sales prices. Besides that, I believe there are three other interesting statistics worthy of comment.

  • First, the number of properties selling per month has doubled in just the past four months after an extended period of low sales volume.
  • Second, the number of bank owned/post foreclosure properties has fallen significantly from the prior month.
  • Third, the number of short sales available are flat, which is not surprising based upon my experience with short sales. There’s nothing easy or “short” about a short sale. Additionally, most agents don’t want to be bothered fighting with a bank to try to get a short sale approved when they can easily get a post foreclosure or “REO” property.

The fact that sales prices have been level (a large increase in properties selling and decreased foreclosures available) is a good indication of a stabilizing market. However, it’s very possible that a second large wave of foreclosures is coming, which would have the potential to affect these trends. As I’ve said in prior newsletters, this looks like the bottom statistically but only time will tell the facts.

by Evan Rosen

Tags: South Florida home prices, south florida real estate, South Florida REO, South Florida short sales

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