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Market data for Southeast Florida single family homes for the month of June 2012 can be found at http://www.TheModernistAngle.com
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WELCOME to all new readers and to all regulars from my ModernSouthFlorida-blog. I moved the blog over to this site since keeping the two sites – blog and website – under one roof makes much more sense then in two different houses. A bit like two teenagers: easier to keep them in line and on track. As soon as there is a blog-import feature by this site's host (spring 2011), all previous bog-posts will be moved over here. Until then, you can read them here. So off we go, with the riveting December market statistics for homes in the Southeast Florida market: THE OVERALL HOUSE MARKET Single family home numbers for December are rather tame (or lame), after a little bit of a firework in early and mid-summer last year. Highest median selling prices in 2010 were recorded in March at $210,233. That is 11 percent above year's close, which itself was nearly the same as the median January selling price. Median asking prices last year dropped by 15 percent, and the end may not be here yet. Inventory fluctuated between 9 and 14 months, ending in December at 9 months with 26,826 homes for sale, but a strong absorption of 2,977 houses.  (SFH data Jan 2010 to Dec 2010. Red: median list price, green: median selling price, blue: inventory in months. Data source: SEF-MLS) THE MODERN HOMES MARKET An interesting development continues in the market* for modern homes - it moves around like a pesky mosquito:
Questions, comments? I'd love to hear from you!
_____________________________________________________ (*Please remember that these data are for observed sales only, but still, they continue a trend observed for several months now). THE RESIDENTIAL MARKET OVERALL
The November single family home market wasn’t exactly fun. The wee bit of activity that was came at the price of, um, the prices: median list prices fell a timid 1.2 percent, but median selling prices dropped a hefty 8.3 percent. But that still did not buoy the market. So who’s asleep at the wheel: sellers on 500mg Xanax, wishfully thinking their house is so much better than anyone else’s? Or real estate agents, desperately chasing any listing they can get, as overpriced as it may be? Probably both. Case in point: a house in my neighbourhood, fresh on the market and according to a quick analysis approx. 25 percent (!) overpriced. That’s either major brawn or what’s called “shooting with wet powder”. Good luck. – The November numbers: * Inventory for sale: 27,538 (13 months supply) * Median list price: $274,667 * Median list price per sf: $138 * Units sold last month: 2,136 (3.7%) * Median selling price: $186,667 (-8.3%) * Median selling price per sf: $105 (SFH data Nov 2009 to Nov 2010. Red: median list price, green: median selling price, blue: inventory in months. Data source: SEF-MLS) THE MODERN MARKET The modern market in November went against trend, as this segment so often does: compare the selling price uptick in modern homes vs. selling prices of all homes (green curve). That doesn’t mean stellar performance and ecstatic sellers, but despite inventory going up and absorption rate down, median selling prices as well as selling price per sf managed a 15+ percent increase over the previous month. Unchanged is the market segmentation: few good properties under ca. $1.3m - $1.5m, really difficult under $600,000, and plenty to choose from above ca. $1.5m to $2m. I do not foresee this situation changing any time soon. And with mortgage rates possibly rising – despite stubborn unemployment, a key factor in housing activity – more buyers may become active in the market. Have a nice weekend! |
AuthorTobias Kaiser is an independent real estate consultant and licensed Realtor in Florida since 1990. He specializes in modern architecture and net leased investments.  Archives
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MODERN FLORIDA HOMES • 370 CAMINO GARDENS BLVD • BOCA RATON, FL 33432
TOBIAS KAISER, MSc, CIPS • REALTOR/BROKER • MODERN ARCHITECTURE SPECIALIST KAISER ASSOC, INC • LIC FLORIDA REAL ESTATE BROKERS & CONSULTANTS MEMBER NAR, RCA, DOCOMOMO, NCMH • EMAIL • +1 954 834 3088 NO DISCRIMINATION: Kaiser Assoc. and its agents will not discriminate against any person because of race, color, religion, sex, handicap, familial status or national origin in the sale or rental of housing or lots, in advertising the same, in the financing of housing in the provision of real estate brokerage services, in the appraisal of housing, or engage in blockbusting. Kaiser Assoc. strictly adheres to the National Association of Realtors© Code of Ethics and Standards of Practice in accordance with Federal Fair Housing Laws. Site design + contents ©Tobias Kaiser 2021. PUBLICATION, USE OR REPRODUCTION incl. partially ONLY WITH WRITTEN PERMISSION. |