market update
July 24, 2012
I am always trying to keep my readers and clients updated on the latest trends in our real estate market. Interested in some important facts? In the chart above, you will see that the average price per square foot in Miami-Dade County is the highest it has been in the last 12 months. The average price per square foot in Miami Dade-County has increased 19.6 % in the last 12 months. Of that, average prices in Dade-County have increased 9.1 % in just the last month! There has been a 28 % decrease in inventory in the last 12 months in Miami-Dade County. With only 5 months of inventory, as I predicted, we have been moving in to a seller’s market. […]
July 11, 2012
“Return of the bidding war for South Florida Homes” and “Miami Herald Goes House Hunting”. These are two articles that have been printed by the Miami Herald in the past two weeks about the market in South Florida. A few things that are similar about these articles: Both mention how the market in South Florida is bouncing back (and rather quickly), and interestingly enough, they both quote members of EWM as experts in the business. No surprise they went to EWM associates for their expertise. “Return of the bidding war for South Florida Homes”, written by Martha Brannigan, discusses the inventory of active listings in South Florida is low, and that if properties are priced right, they sell quickly. “Say […]
May 29, 2012
My team and I have had a very successful beginning to 2012! We’ve taken on 21 new listings, averaging one new listing a week; and closed 33 transactions, averaging one closing every five days. We love the activity, and so do our clients. Even with this success, we still have time for, and are always looking for more business Our team’s activity is proof positive that the article in the Miami Herald on May 23, 2012, entitled “Real Estate Sees Jump from Slump”, is absolutely correct. I suspect we will be seeing more articles and comments about the market picking up substantially in South Florida. As the saying goes, “If you want something done, ask a busy person to do […]
May 16, 2012
I posted a blog recently about The Village of Palmetto Bay, and our turn key listing located at 14901 SW 87 Avenue. The market in the Village of Palmetto Bay is really on the rise! The market currently has a 6.2 month inventory. A healthy market contains a 6-9 month inventory. Anytime the market is below a 6 month inventory, we are in a seller’s market. This past April was a great month for Palmetto Bay! There were 39 pending sales, which is the largest number of pending sales for a one month span in over a year. This is up 25% from April of 2011. Inventory is much lower than this time last year. Inventory is down 41% […]
May 14, 2012
After one of the most successful first quarters in the past few years, we decided it was time to prove to our readers what we have been saying for quite some time: If you are thinking of selling your home, do it now! With the average price per square foot in Coral Gables being one of the highest we have seen in the past twelve months, and inventory being low, our market is fast approaching, if not already in, a seller’s market. Skeptical? These numbers don’t lie! As you can see in the chart above, inventory is incredibly low. A healthy market is considered to have 6-9 months worth of inventory. Below 6 months becomes a seller’s market. At 6.4 […]