Since one year ago, the number of active listings is down 20% while the sold properties are down 8.3%.
The pended are down 21.4%. When the PENDED LISTINGS indicator is rising, our market is in recovery. Contracts have been written and are anticipated to close.
Average home prices are up 1.8%. The price per square foot of a single-family residence, is approximately $157.00 per square foot – which is an increase of 1.9% over last year.
Part of the reason for the shortage of inventory: Homes remain on the market an average of 46 days — a decrease of 2.1% over last year. Homes are selling within 95% of their originally listed price.
The average listed price in Pembroke Pines is $451(price in thousands), which is an increase of 1.8% over last year. The average sold price is $417 ( price in thousands) which is an increase of 10.6% over last year.
Important information: Months of Inventory. Currently,Pembroke Pines is experiencing four months of inventory which is indicative of a Seller’s market. This is a 13.1% decrease from a year ago.
It is time to list, time to sell, time to upsize, time to downsize — money is still inexpensive to borrow.
Consider what is happening locally:
Would you like the charts that inspired this article: FactsAndTrendsReport(4)