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Portsview Condominium Market Update

Portsview Condominium Market UpdateHarborside and Portsview

PORTSVIEW

  • Apt 408 – 3 BR 2 BA – Just Sold February 2013 – $343,000
  • Apt 1112 – 2 BR 2 BA – For Rent – $1,700/month
  • Apt 911 – 2 BR 2 BA – For Rent – $1,600/month

HARBORSIDE

  • Apt 1104 – 2 BR 2 BA – Just Sold January 2013 – $310,000
  • Apt 607 – 2 BR 2 BA – Just Rented January 2013 – $1,800/month

Looking to buy or sell?  Contact me for more information on South Florida real estate at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Home Prices in 2012: Best Year-on-Year Gain in Six Years

Home Prices in 2012: Best Year-on-Year Gain in Six YearsRising Home Prices

Posted By susanne On February 7, 2013 @ 4:09 pm In Business Outlook,Consumer News and Advice, Finance and Economy, Real Estate Information, Real Estate Trends, Today’s Marketplace, Today’s Top Story

CoreLogic, a leading residential property information, analytics and services provider, recently released its December CoreLogic HPI report. Home prices nationwide, including distressed sales, increased on a year-over-year basis by 8.3 percent in December 2012 compared to December 2011. This change represents the biggest increase since May 2006 and the 10th consecutive monthly increase in home prices nationally. On a month-over-month basis, including distressed sales, home prices increased by 0.4 percent in December 2012 compared to November 2012. The HPI analysis shows that all but four states are experiencing year-over-year price gains.

Excluding distressed sales, home prices increased on a year-over-year basis by 7.5 percent in December 2012 compared to December 2011. On a month-over-month basis, excluding distressed sales, home prices increased 0.9 percent in December 2012 compared to November 2012. Distressed sales include short sales and real estate owned (REO) transactions.

The CoreLogic Pending HPI indicates that January 2013 home prices, including distressed sales, are expected to rise by 7.9 percent on a year-over-year basis from January 2012 and fall by 1 percent on a month-over-month basis from December 2012, reflecting a seasonal winter slowdown. Excluding distressed sales, January 2013 house prices are poised to rise 8.6 percent year over year from January 2012 and by 0.7 percent month over month from December 2012. The CoreLogic Pending HPI is a proprietary and exclusive metric that provides the most current indication of trends in home prices. It is based on Multiple Listing Service (MLS) data that measure price changes for the most recent month.

“December marked 10 consecutive months of year-over-year home price improvements, and the strongest growth since Read the rest of this entry »

Written by Michael Solovay | Discussion: No Comments »

Miami Real Estate Market Focus

Miami Real Estate Market Focus

Miami-Dade Stats – August 2012

Miami-Dade Stats - August 2012We see year over year increases in closed sales, median sales price and average sales price for both single family homes and condos.  Current inventory and distressed sales are both down as compared to this same time last year.

** stats provided by the MIAMI Association of REALTORS. Copyright MIAMI, reprinted with permission.

I hope you find this information useful.  Please contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected]


Written by Michael Solovay | Discussion: No Comments »

Facts and Trends for Aventura

Facts and Trends – Aventura, FL   March 2009 – May 2010

Number of Properties for Sale vs. Sold – Condo/TownhomeFacts and Trends

Analysis:

  • 14% decrease in homes for sale from May 2009 – May 2010
  • no significant increase or decrease in sales
  • May 2009 – 19 month supply of homes for sale
  • May 2010 – 16 month supply of homes for sale

For more information please contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Is It True That Sales Are Up And Inventories Are Down?

Broward and Miami-Dade County Residential Inventories Continue To Decline During July

Broward County InventoryMiami-Dade County Inventory

According to data from the Multiple Listing Service (MLS) , Broward and Miami-Dade residential inventories continued to decline during July 2009.

Inventories dropped from 74,966 total homes and condos for sale in July 2008, to 49,058 in July 2009, a 35% decrease in just 12 months.  During that same time frame, sales increased 47% from an average of 2,518 sales per month to 3,707 sales per month.  The inventory supply across both counties decreased from 30 months last year to 13 months today.

According to Ron Shuffield, President, EWM Realtors , “decreasing prices have been the prime motivator for our spike in sales this past year.  If you’re selling, now is the time to make sure that your property is priced accurately.  If you’re buying, your choices will continue to decrease throughout the remainder of 2009.”

You can check-out Facts & Trends reports at www.ewm.com/trendx to see the numbers for your area and price range or ask me to expand your search using our complete data file. Deals are happening!

Contact me for information for your area at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Facts and Trends – Miami-Dade County Condo/Townhomes

Number of Homes For Sale vs. Sold – April 2008 thru June 2009

Price Range: $300,000 to $1,000,000

This range makes up 29% of the current inventory of condo/townhomes on the market and 16% of the current sales.


Facts and Trends

June 2008:  8,436 / 204 = 41 month supply of inventory

June 2009:  5,475 / 147 = 37 month supply of inventory

The analysis of this 1 year period shows a 35% decrease in inventory for sale and a 28% decrease in sales.

For more information contact me at (305) 329-4929 or [email protected]



Written by Michael Solovay | Discussion: No Comments »

Facts and Trends: Aventura, FL

Aventura Condos

November 2007 – January 2009

 

Aventura Trendgraphix

 

We can see from the chart that:

  • 2,053 condos were for sale  in 1/08  vs 1,732 condos for sale  in 1/09 = 16% decrease in the number of condos for sale 
  • Amount of inventory went from 57 months supply last year to 31 months supply currently
  • 55% increase in number of sales

Interesting Facts:

December 2008 – January 2009

Short Sale Inventory:          331 = 19% of total inventory for sale

Foreclosure Inventory:        31 = 2% of total inventory for sale

                                                      ————–

Total                                            362 = 21% of total inventory for sale

 

Short Sale Closings:               18% of total closings

Foreclosure Closings:          32% of total closings

                                                     —————-

Total                                           50% of total closings

50% of all Closings for the period were Short Sales and Foreclosures.

For more information please contact me at [email protected]

Written by Michael Solovay | Discussion: No Comments »

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