We’ve all heard the expression “Numbers don’t lie” . but we also know that they can be used to prove different points of view, depending on the numbers you choose to emphasize and the point you’re trying to make. More than ever, professionals and consumer alike are being barraged by an onslaught of statistics, (we used to call them sadistics), including graphs, trend reports, etc— mostly telling us that inventory is up! prices are falling! sales are down!
But are there regional differences, or are all communities alike? Are there pockets of opportunity for the savvy buyers & sellers?
Using the graph as illustration, showing sales of waterfront condos in Hollywood, in particular those within the 33019 zip code, it is possible to focus on one area’s listing/sale ratios. Looking at the condo market priced between $250 to $600,000, I was surprised to discover that, although the average sales price had been trending down since last July, it had started to move from March/April in an upwards direction.
Does this mean the correction is flattening out, at least for this area, spelling GOOD NEWS for sellers, and a Call for buyers to ACT NOW.
To negotiate these murky market waters, it has never been more important to have the benefit of the expertise of a real estate professional. For further discussion on market data, please feel free to contact me at:
Ellen Windheim
[email protected]