![\"PPines](\"\/\/www.ewm.com\/blog\/wp-content\/uploads\/2016\/06\/PPines-chart-for-Robert.jpg\")
<\/a><\/p>\nSince one year ago, the number of active listings is down 1.7% while the sold properties are down 11.1%\u00a0 compared to last year.<\/p>\n
The pended are down 4%. When the PENDED LISTINGS indicator is rising, our market is in recovery. Even though we are 4% down from last year, we are up 14.3% compared to last month. Contracts have been written and are anticipated to close.<\/p>\n
Average home prices are up 8.3% compared to last year.\u00a0 The price per square foot of a single-family residence, is approximately $168 per square foot \u2013 which is an increase of 3.7% over last year.<\/p>\n
Part of the reason for the increase of inventory:\u00a0 Homes remain on the market an average of 110 days \u2014 an increase of 115% over last year.\u00a0Homes are selling within 96% of their originally listed price. That is an indicator that there may be fewer price reductions and\/or homes are selling in fairly short order from when they were listed. This may be partly due to TRID*.<\/p>\n
The average listed price in Pembroke Pines<\/a> (Zip Code 33028) is $483,000 — an 8.3% increase over last year.\u00a0 The average sold price is $447,000 – an increase of 18.9%.<\/p>\n Important information: Months of Inventory<\/strong>.\u00a0 Currently, Zip Code 33028 (single family homes built after 1995) is experiencing 3.7 months of inventory which is indicative of a Seller’s market. This is a 12% increase from a year ago. However, regardless of the fact that the inventory increased 12% over last year, we are so low in inventory, that the 12% is not that significant!\u00a0 That is why we are still in a Seller’s market.<\/p>\n It is time to list, time to sell, time to upsize, time to downsize \u2014 money is still inexpensive to borrow.<\/p>\n Let’s listen to our president, Ron Shuffield<\/a>, as he gives an update of the market:<\/p>\n