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THE MODERNIST ANGLE

The February Real Estate Market

22/3/2011

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THE RESIDENTIAL MARKET OVERALL

The February market for houses in the Southeast Florida Tri-County area, encompassing Miami-Dade, Broward and Palm Beach, suddenly turned extremely active. Fewer homes came on the market, and while the numbers show a very slight increase in median list prices, the number of sold homes is up drastically, with largely unchanged but rather soft selling prices. Interesting also: the very volatile inventory curve over the last six months.

Pent up demand or investors? The reasons for the sudden activity are not quite clear to me or many of my colleagues. One bird doesn't make spring though; it remains to be seen how this will develop over summer. Certainly Florida unemployment hasn't changed much, which is the biggest factor in property purchase decisions.

The numbers:
  • Houses for sale: 25,394 (10 months supply, -25.7% m-o-m)
  • Median list price: $281,300 (+3.6% m-o-m)
  • Median list price per sf: $137
  • Units sold last month: 2,465 (+29.2%)
  • Median selling price: $172,234 (+0.2% m-o-m)
  • Median selling price per sf: $96
SFH inventory - list prices - selling prices, Southeast Florida, Feb 2010-Feb 2011
(SFH data Feb 2010 to Feb 2011. Red: median list price, green: median selling price, blue: inventory in months. Data source: SEF-MLS)


THE MODERN HOME MARKET

In the meantime, in the modern market available inventory as well as prices of
observed sales are further sinking, while prices per sf went up last month.

The lower end of the market – approx. under $1.5m, really bad under $800k – still looks plundered like a supermarket shelf just before a storm. Good homes generate a lot of interest from multiple buyers and go under contract fast, so it's not the time to lean back and relax if an interesting home does become available.

___

As always, your comments and questions are welcome!
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JANUARY + FEBRUARY MARKET DATA TBA

9/3/2011

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If you wonder where the January market data went: for lack of sufficient data I could not publish them so far.

As I am in the process of collecting February data, I will include January statistics if the data set for that month is large enough.


Expect the data for February to be published here around mid-March – and thank you for your interest.
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    Tobias Kaiser, lic. Florida real estate broker and modern home specialist

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    Tobias Kaiser works as an independent real estate broker and consultant in Florida since 1990. Always putting his clients' interest first, he specialises in modern Florida homes and architecture, as well as net leased investments.
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MODERN FLORIDA HOMES • 370 CAMINO GARDENS BLVD • BOCA RATON, FLORIDA 33432, USA
TOBIAS KAISER, MSc, CIPS • REALTOR/BROKER • MODERN ARCHITECTURE SPECIALIST
KAISER ASSOC, INC • LIC FLORIDA REAL ESTATE BROKERS & CONSULTANTS
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  • Home
  • Modern Homes for sale
  • Selling a Home
  • Inquiries
  • Why Tobias Kaiser?
  • Contact
  • "Modernist Angle" Blog
  • Services we offer
  • Intro to Modernism
  • Elements of Modern Architecture
  • Preservation
  • Real Estate FAQ
  • Facebook >
  • Deutsche Seite >
  • Net-Leased Investments >
  • About Tobias Kaiser