Modern South Florida Homes


The Single Family Home market in December

01/17/2012

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_Quiet December wasn't so quiet after all, it turns out.

Real Estate newsletters bombard you with news about skyrocketing condo sales in Miami (who's buying?) but the market for houses was also rather lively for this time of the year. Too bad that my tools don't allow a seller origin analysis.

All the activity didn't translate into price changes though: listing as well as selling prices didn't move m-o-m, while y-o-y there was a 10 percent dent to be observed.

In the same time though, inventory dropped a hefty 24% (I added y-o-y changes behind the m-o-m changes to mix things up a bit for you). Again, supply and demand rules seem not to be applicable right now:
  • Houses for sale: 19,784 (-1.2% / -24.4%)
  • Inventory: 6.5 (-6.4% / -30.4%)
  • Median list price: $303,800 (0.5% / -3.0%)
  • Med. list price per sf: $143 (99.8% / -10.4%)
  • Houses sold last mo: 3,065 (4.8% / 4.4%)
  • Med. selling price: $196,000 (0% / -10.9%)
  • Med. selling price per sf: $99 (0% / -10.5%)
Florida homes sales Dec 2011 ©Tobias Kaiser
_Table: single family home data per month’s end for Palm Beach, Broward and Miami-Dade (Florida) counties. Changes are month-over-month / year-over-year.
Chart: Single family home data Jan 2011 to Dec 2011. Red: median list price, green: median selling price, blue: inventory in months. – Data compiled from SEF-MLS
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The Single Family Home Market in November

01/04/2012

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Overshadowed by the Thanksgiving holiday, _November sales of single family homes tend to begin quiet and then come to a slow crawl.

The last part of that statement will be seen in December, but overall there certainly wasn't much movement. However, inventory keeps falling, with stable prices, which in itself is astonishing.
  • Houses for sale: 20,031 (-1.6%)
  • Inventory: 6.9 mos (-6.4%)
  • Median list price: 301,500 (+0.5%)
  • Median list price per sf: $143 (no change)
  • Houses sold last month: 3,065 (+4.8%)
  • Median selling price: $189,467 (no change)
  • Median selling price per sf: $97 (no change)
Though inventory is over 17% lower in November 2011 than November 2010, year over year prices have dropped by 10%. So dwindling inventory does not always equate rising or even stable prices.

At least so far.
_Table: single family home data per month’s end for Palm Beach, Broward and Miami-Dade (Florida) counties. Changes are month-over-month.
Chart: Single family home data Dec 2010 to Nov 2011. Red: median list price, green: median selling price, blue: inventory in months. – Data compiled from SEF-MLS
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The Single Family Home Market in August

09/23/2011

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At some point, if you read this column regularly, you must think I'm a grumpy old fart, uncontent and miserable.

And here grumpy goes again: What is it with the press?

Specifically, the housing numbers the press celebrated last and this week.

Perhaps you think I live on another planet, or had too much beer at the Wiesn (aka Oktoberfest–and no, I didn't make it this year.) Perhaps the housing data and headlines released for August have a self-serving purpose. But they are definitely nothing to be jubilant about, though that's what some media are–again–screaming into our ears.

THE SINGLE FAMILY HOME MARKET

Despite a tiny bit of action in Palm Beach County, overall nothing really improved last month:
  • Median asking prices have held steady in all three counties. – Great. And that's the good news? Really?
  • Median selling prices per square foot under air  did not change in all three counties.
  • Median selling prices increased a measly 3.0% in Palm Beach, but didn't budge in Broward and Miami-Dade. And year-over-year, median selling prices actually went down another 5.1%
  • Inventory fell a bit–to a large part due to less foreclosures and short sales
The numbers for all Single Family Homes in the three counties:
  • Houses for sale: 20,579 (-1.2%)
  • Inventory: 6.2 months (-10.9%)
  • Median list price: $299,667 (+0.6%)
  • Median list price per sf: $142 (no change)
  • Houses sold last month: 3,454 (+10.4%)
  • Median selling price: $184,833 (+0.8%)
  • Median selling price per sf: $100 (+0.3%)

South Florida housing data August 2011 ©Tobias Kaiser


Table: all regional single family homes for sale/sold; data per last month’s end. Changes are month-over-month. – Chart: SFH data August 2010 to August 2011. Red: median list price, green: median selling price, blue: inventory in months. – Data source: SEF-MLS


THE MODERN HOME MARKET

As explained last month, I do not publish modern market data here anymore. Emphasis on here.

I still compile market and sales statistics for modern architecture, including asking and selling prices, prices per square foot, time on market and price differentials.

The complete data will continue to be available to my brokerage and consulting clients–just not publicly on this site.

If you have an interest or need for modern market statistics, I welcome you to contact me anytime.

And as always: thanks for reading this column!
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