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The Single Family Home market in December

17/1/2012

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

4/1/2012

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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: 2.887 (+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.

Florida homes sales Nov 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.
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 MODERNIST ANGLE

The Single Family Home market in December

The Single Family Home Market in November

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