Since one year ago, the number of active listings is up 11.1% while the sold properties are down 44.4%.
The pended listings are down 22.9%. When the PENDED LISTINGS indicator is rising, our market is in recovery. Contracts have been written and are anticipated to close.
Average home prices (listed) are down 8.7% in Parkland, Florida. The price per square foot of a single-family residence is approximately $198 per square foot – which is an increase of 13.1% over last year.
Part of the reason for the shortage of inventory: Homes remain on the market an average of 67 days — an increase of 21.8% over last year. Homes are selling within 94% of their originally listed price.
The average listed price in Parkland, Florida is $932,000 — an 8.7% decrease over last year. The average sold price is $672,000 – an increase of 16.9% compared to last year.
Important information: Months of Inventory. Currently, Parkland, Florida is experiencing 10.6 months of inventory which is indicative of a Buyer’s market. This is a/an 80.2% increase from a year ago.
It is time to list, time to sell, time to upsize, time to downsize — money is still inexpensive to borrow.
For a complete copy of graphs used in this blog post, FactsAndTrendsReport(2)
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