Millennials Love South Florida

Millennials Love Miami. blog_denapoligroup.com
Millennials love South Florida, especially Miami. Blog: denapoligroup.com. Photo by: Brigita DeNapoli Photograhy

Millennials love South Florida, and especially Miami. And what not to love? There is an amazingly nice weather and sun for most of the year. There is sandy beach that you can enjoy all year round. There are various festivals, art galleries and music venues to keep everyone busy.

Actually, there was a research done by realtor.com economic data team when they “analyzed the 60 largest U.S. cities and how much millennials were checking out listings in those areas, compared with the national average, from August 2016 to February 2017”.

According to this article, top 10 cities where millennials would like to move are:

  1. Salt Lake City, UT.
  2. Miami, FL.
  3. Orlando, FL.
  4. Seattle, WA.
  5. Houston, TX.
  6. Los Angeles, CA.
  7. Buffalo, NY.
  8. Albany, NY.
  9. San Francisco, CA.
  10. San Jose, CA.

As you can see, we have two towns in state of Florida that are very popular by millennials. Among all the top 60 cities in the United States, Miami is No.2 top spot and Orlando is No.3, where millennials would like move.

If you are interested in buying a property in Miami, lets see what is available right now in residential real estate:

Miami Properties for Sale August 2017. denapoligroup

 

There are total of 8181 properties for sale in Miami. And there are more then double amount of condos available , than a single family houses:

Properties for Sale in Miami August 2017. denapoligroup

 

There are total of total of 8181 properties for sale, of which 2571 are houses and 5610 are condos. This makes a single family house a 31%, and condo a 69%.

The data used to make the chart from the Greater Fort Lauderdale MLS which has data that is deemed reliable but not guaranteed and has the most accurate and up-to-date information about local home sales.

If you want more information about local market, please look into Local Market Conditions and Home Prices category.

 

Sold Homes and Condos in Broward County: Market Update

Sold Homes and Condos in Broward County, FL
Sold single family houses and condos in Broward County Florida. How did it change in July 2017 from July 2016

Hello August! The last month of this summer started, so we can review the previous month’s real estate sales in Broward County,FL.

I did the research and compiled information separately for single family houses and condos sold in Broward County for the periods of July 2017 and July 2016. Once I have the sale numbers from the current year and the previous year the same periods, it is much easier to understand how real estate sales changed since the last year.

And here are the results:

Single family houses sold in Broward County:

Single Family Homes Sold in Broward County July 2016 and July 2017

So comparing the housing market to the previous year same period for single family houses, we can see that that there were 1733 units sold July 2016 and 1518 sold July 2017. It was over 12% decrease in sold single family homes during this July when comparing with July 2016. The median sale price for homes increased 10.4% since the last year. Even the median list price increased by 9.1% Days on the market were 30 for July 2017, and days on the market were 27 for July 2016.

The single family house price increased since the last year. Do you think it was because less houses there were available for sale?

Condos sold in Broward County

Sold Condos in Broward County July 2016 and July 2017

Lets compare condos sold during July 2017 and July 2016.  There were sold 1518 condos in July 2016 and 1361 during July 2017. So it was a  10.3% decrease in sold condos during this July when comparing with July 2016. The median sold price increased 11.2% since the last year. Even the median listing price increased 10.3% to compare with the same period 2016. The condos were selling faster this year : Median days on the market were 44 for July 2017, and days on the market were 46 for July 2016.

The condos were selling faster and for more money. Was it because there were less houses on the market?

 

The numbers I used to make this table were taken from the Greater Fort Lauderdale MLS. These numbers are said to be reliable but are not guaranteed.

If you are interested in more information about home sales in Broward County, please visit Local Market Conditions and Home Prices category.

Active Listings in Broward County

IMG_3599 - Active Listings Broward August 2017

It is very active real estate market now in Broward County.  There are total of 5285 active listings for single family houses. Here is more detail information:

Homes for Sale
Active Listings
New Listings
Average
Median
Median Days on the Market
$100,000 and Under
44
11
 $        60,937
 $        59,950
70
$101,000-$200,000
312
106
 $     166,444
 $     171,500
57
$201,000-$300,000
681
299
 $     257,554
 $     259,009
40
$301,000-$400,000
986
457
 $     358,686
 $     359,900
39
$401,000-$500,000
744
296
 $     453,307
 $     449,900
46
$501,000-$600,000
522
179
 $     555,066
 $     550,000
59
$601,000-$700,000
372
98
 $     659,175
 $     650,000
72
$701,000-$800,000
284
82
 $     759,713
 $     754,000
67
$801,000-$900,000
173
41
 $     866,901
 $     869,000
66
$901,000-$1,000,000
180
37
 $     968,752
 $     975,000
96
$1,001,000-$1,500,000
347
65
 $  1,259,587
 $  1,250,000
110
$1,501,000-$2,000,000
196
29
 $  1,760,082
 $  1,750,000
117
$2,001,000 and Above
441
55
 $  4,364,722
 $  3,300,000
164
Active Listings Single Family Houses in Broward County August 2017

 

Lets look at the number of single family houses available for sale in Broward County. There are 5282 houses available right now, with 1755 new active listings. Houses listed 200K-400K are selling the fastest, which is 40 days. Average days on the market for the houses under a million dollars are about 61 days, and average days on the market for the houses over a million is is around 130 days. The most of the listings are in the price range 300K-400K, which is 986 active listings.

The data used to make the chart from the Greater Fort Lauderdale MLS which has data that is deemed reliable but not guaranteed and has the most accurate and up-to-date information about local home sales.

If you want more information about local market, please look into Local Market Conditions and Home Prices category.

Active Listings in Broward County

House for Sale Active Listings New Listings Average Median DOM Ave
100,000 and Under 69 33 $62,935 $69,900 89
101,000-200,000 368 167 $166,530 $169,931 106
201,000-300,000 760 384 $256,617 $257,450 52
301,000-400,000 940 491 $358,108 $359,650 52
401,000-500,000 713 322 $453,240 $449,900 61
501,000-600,000 543 241 $557,282 $550,000 64
601,000-700,000 359 134 $660,988 $660,000 77
701,000-800,000 257 103 $762,647 $755,000 83
801,000-900,000 160 49 $866,516 $874,950 78
901,000-1,000,000 170 58 $971,191 $984,500 101
1,001,000-1,500,000 397 124 $1,256,602 $1,249,000 106
1,501,000-2,000,000 197 43 $1,773,689 $1,755,000 154
2,000,000 and Above 445 69 $4,343,670 $3,200,000 168
Active Single Family House Listings in Broward County in March 2017

Lets look at the number of single family houses available for sale in Broward County. There are 5382 houses available right now, with 2219 new active listings. Houses listed 200K-400K are selling the fastest, which is 52 days. Average days on the market for the houses under a million dollars are about 71 days, and average days on the market for the houses over a million is is around 143 days. The most of the listings are in the price range 300K-400K, which is 940 active listings.

The data used to make the chart from the Greater Fort Lauderdale MLS which has data that is deemed reliable but not guaranteed and has the most accurate and up-to-date information about local home sales.

If you want more information about local market, please look into Local Market Conditions and Home Prices category.

A 1-year Change in Broward Housing Market

Property Sold Units Sold List Price Average List Price Median Sale Price Average Sale Price Median Total Price
February 2016 1303 $394,553 $299,900 $370,412 $290,000 $482,198,230
February 2017 1001 $411,909 $315,000 $413,724 $300,000 $413,722,912
Broward single family home sales in February 2016 and February 2017
1-year change

-23.18%

4.40%

5.04%

11.70%

3.45%

-14.20%

⇓              

Another month ended, so we can compare again with housing market to the previous year same period. There were over 23% decrease in sold single family homes during this February when comparing with February 2016. The prices for sold homes  increased almost 12% since the last year. But the house were selling faster this year : average days on the market were 63 February 2017, and average days on the market were 88 for February 2016. The house were selling faster and for more money. Was it because there were less houses on the market?

The numbers I used to make this table were taken from the Greater Fort Lauderdale MLS. These numbers are said to be reliable but are not guaranteed.

If you are interested in more information about home sales in Broward County, please visit Local Market Conditions and Home Prices category.