Three and one half years ago, less than 30% of the closed sales of single-family homes and condos within the Broward and Miami-Dade MLS accounted for homes and condos sold for less than $300,000. Today 75% of all Broward and Miami-Dade sales are closing at prices less than $300,000…..with upwards to two thirds of all current closings being either short sales or foreclosures.
The inventory of homes and condos priced less than $100,000 in mid-2005 accounted for less than 400 homes. Currently, in Broward and Miami-Dade, Realtors have over 11,000 homes and condos for sale priced less than $100,000. These numbers account for 17% of our total MLS inventory.
The graph below represents sales in Forest Ridge, based on the average list price and average sales price, according to the MLS.
EWM Realtors, Inc. has launched a new initiative called EWM Smart Living which can be accessed through www.ewm.com. It will showcase listings which are in the $300,000 and under price range and will feature single family homes, town homes, villas and condos. A recent EWM analysis of Multiple Listing Service (MLS) data indicates that more than 45,000 South Florida single family homes and condos are priced less than $300,000. That represents 65% of the total number of homes and condos actively for sale in the Broward and Miami-Dade market, according to Ron Shuffield, EWM President, and all 45,000 listings will be available on EWM Smart Living.