Sale Price and List Price Ratios

List price and sold price ratio

What are sale prices and list priceratios for single family homes in Broward County, Florida?

Close price to list price ratio. Broward. Jan 2013-July 2018
Close price to list price ratio. Broward. Jan 2013-July 2018

 

Real estate is somewhat seasonal.

If you woud look at the chart above you can see very interesting information about Broward County, FL real estate. The chart I did using all the information I had gathered from MLS of the Palm beaches and Greater Fort Lauderdale. These numbers are said to be reliable but are not guaranteed.

The chart shows the real etstate market from the period of January 2013 up untill July 2018. It is based on sales of 97,537 single family listings.

The green line in the chart shows the closed price to the list price ratio. You can see that during summer 2018 the ratio was the closest to 100% during this period. It was above 97.6%

The bigest discrepancy between closed and sold price was around the January 2015.  It was around 96.5%

If you look in more detail information, you will notice that around every January of each year, there is a close price and listing price ratio decrease. There are usually fewer homes around Christmas holidays. We usually notice the increasing number of the homes for sale after the holidays. If you look closely, you will notice the closed price and list price ratio is the highest during the summer months. Some of it has to do with people buying habits.

It is still a great time to sell.

Million Dollar Houses in Broward County,FL

Million dollar house in Broward County,FL
Million dollar house in Hollywood, FL

If you are interested in home in Broward County, FL, that costs 1 million and above, there are 1,067 homes for the price of one (1) million dollars and above for sale right now.

Million Dollar Houses in Broward County, FL
Million Dollar Houses in Broward County, FL

I looked up information about expensive homes on our local REALTORS® of the Palm Beaches and Greater Fort Lauderdale MLS.

There are 1,067 homes that the price is one million and more.

If you look at the map above, the most homes are in east-central area of Broward County, mainly Fort Lauderdale. There are 410 million dollar homes there.

North – East area of Browad County, mainly Pompano Beach, is second most popular area with million dollar homes. There are 147 homes with the price point of 1 million and above.

West area of Broward County, is mainly the area of Weston and Southwest Ranches. There are 292 houses that prices are one million and above.

South-East area of Broward County is where Hollywood, Hallandale and Dania are located. There are 117 homes, thats costs one million and above.

North-West area of Broward county is where Parkland and Coral Springs are located. There are 94 homes, that costs one million and above.

If you would like to know more about local real estate, please check out Local Market Conditions and Home Prices category.

Condos and Townhomes Are Selling Fast

High-rise in downtown Fort Lauderdale, FL
High-rise building in downtown Fort Lauderdale, FL

If you are looking for a condo or townhouse to buy, you are in for a big surprise- they are selling really fast.

I looked up some information about condos and townhomes sold. I have access to information for our local MLS of the Palm Beaches and Greater Fort Lauderdale.

I just wanted to know how condos  and townhomes sales were during the period during last few years.

Condominiums & townhomes sold in Broward County, FL
Condominiums and townhomes sold in Broward County, FL during the period of January 2013 to April 2018

 

This chart above shows information and results calcuated from approximately 150,000 listings of condos and townhomes in Broward County, FL. The time frame is from January 2013 to April 2018.

When you look at the chart and check the blue line on it, it shows the Median Listing Price. And not surprisingly, the listing price was slowly climbing up during this few years period. January 2013 median listing price was $114,850, and April 2018 median listing price was $189,900.

But really strange and interesting thing interesting in this chart is then it shows the green line in the chart. This line showed median days to sell a listing. If you follow the green line, you will notice the sharp dip in the median days to sell during the early period on 2016.

Median days to sell in January 2013 was 76, and median days to sell in April 2018 were 37.

But lets look at the median days to sell in the beginning of the year 2016:

January 2016- 72 days
February 2016 – 74 days
March 2016 – 47 days
April 2016 – 46 days
May 2016 – 43 days.

You can clearly see there was a drastic change in days to sell: during February it was 74 days, and March was 47 days. Why was this drastic change in median days to sell? I believe it was because there were not enough condos / townhomes for people who were looking to buy.

Maybe that is way we can see a lot of new construction condominiums going up all across South Florida. I wrote a couple of blog posts about it already: new highrise in Hollywood, or a new high-rise in downtown Fort Lauderdale on East Las Olas .

I also find it very interesting, that results of this kind of research of sold condos/townhomes and sold single family homes varies greatly. I did a similar research and wrote a blog post about how single family homes were sold during the last few years in Broward County. It is really interesting that single family houses were selling during last few years, and the median days were getting slowly less and less. While sales in condos/townhomes saw drastic change in median days on the market during the short period February 2016- April 2016.

The data used to make the chart from the MLS of The Palm Beaches and Greater Fort Lauderdale, 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.

If you are looking for a house to buy or sell, please let me know. I would like to help!

MARKET UPDATE: Broward County, FL Single Family Homes for Sale – April 2018

Single family house in Hollywood Hills neighborhood. Hollywood, FL
Single family house in Hollywood Hills neighborhood. Hollywood, FL

It is the end of another month, April, so we can review the real estate market in Broward County, FL during this month.

Lets look at the table I made. Here you can find all the current information about available homes for sale in Broward County:

Market Update- Homes Homes for sale in Broward County FL April 2018

There are 5102 single family houses available for sale in Broward County, FL and 1688 new active listings during month of April.

Houses listed at the price of $251,000-$500,000 are selling the fastest, which is 39 days. This price range also has the biggest number of active single family homes- 2056, with new homes for sale 878.

The next very popular price range group is houses listed between $501,000-$750,000. There are 971 homes for sale in this price group, and 322 of those a new listings.

Median days on the market for the houses under a million dollars are about 54 days, and median  days on the market for the houses over a million is is around 120 days.

The data used to make the chart from the MLS of The Palm Beaches and Greater Fort Lauderdale, 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.

If you are looking for a house to buy or sell, please let me know. I would like to help!

Houses Are Selling Faster and for More Money

Wooden fence
Wooden fence

Houses in Broward County, FL are selling faster and for more money.

Lets look at the chart. We can see the ralationship between Listing Price, Median and Average Days on The Market.

Days to Sell VS Listing Price in Broward County, FL Real Estate For Period Jan 2013 to March 2018. DeNapoliGroup.com
Days to Sell VS Listing Price in Broward County, FL real estate for a period Jan 2013 to March 2018. DeNapoliGroup.com

There is a lot of competition out there.

After long seach and looking at many homes for sale, homebuyer finally  finds THE ONE. It is the house that fits the most what the buyer wants and needs. But the buyer still wants to “think about it”.

If you are looking for  a house to buy, please be ready to act fast. Homes are selling fast right now.

For people who were looking to buy a home just few years back- they had more time to look at the house, and they had time to think about buying a particular house. Then it took about 90 days to sell  home. But now people have to act fast. Because it takes about 35 days to sell a house. It is almost 3 times as fast. So there is no time to to waiste.

If the homebuyer likes the house, their realtor should write an offer for the house. Just like that. A buyer can’t waste time and “think about it”. The competition is strong, and if the particullar buyer is not giving an offer for the house, then there is going to be another buyer that likes the house and will put an offer for it.

 

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