Closed Sales - PRWebww1.prweb.com/prfiles/2014/02/10/11571272/Palm Beach County_T… · Palm Beach...
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Produced by Greater Fort Lauderdale REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Tuesday, February 11, 2014. Next yearly data release is TBD.
2012 13,953 -0.1%
13,449
Economists' note : Closed Sales are one of the simplest—yet most
important—indicators for the residential real estate market. When
comparing Closed Sales across markets of different sizes, we
recommend using the year-over-year percent changes rather than the
absolute counts. Realtors® and their clients should also be wary of
month-to-month comparisons of Closed Sales because of potential
seasonal effects.
2011
2009
2008
8,737 31.1%
6,665 N/A
2013
16,343 17.5%
$112,000 $88,000 27.3%
21,828 21,556 1.3%
2012Percent Change
Year-over-Year
10,360 11,233 -7.8%
13,449 13,953 -3.6%
Summary Statistics
Closed Sales
Paid in Cash
$195,703
2013
19,203New Pending Sales
New Listings
Median Sale Price
Average Sale Price $166,144 17.8%
60 84
2.2%
-28.6%
90.1%
Median Days on Market
92.1%
6,091
Average Percent of Original List
Price Received
Inventory (Active Listings)
13,961 28.7%
2010 10,847 24.2%
-3.6%
Months Supply of Inventory
Year
5.4
7,054 -13.7%
Percent Change
Year-over-Year
6.1 -10.4%
Closed Sales
Yearly Market Detail - 2013
Palm Beach County Townhouses and Condos
6,500
8,500
10,500
12,500
14,500
Clo
sed
Sal
es
Closed Sales The number of sales transactions which closed during the year
2008 2009 2010 2011 2012 2013
Produced by Greater Fort Lauderdale REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Tuesday, February 11, 2014. Next yearly data release is TBD.
Economists' note : This statistic is simply another way of viewing
Cash Sales. The remaining percentages of Closed Sales (i.e. those not
paid fully in cash) each month involved some sort of financing, such as
mortgages, owner/seller financing, assumed loans, etc.
2009 66.8% 19.4%
2008 56.0% N/A
2011 81.0% 7.9%
2010 75.1% 12.3%
2012 80.5% -0.6%
5,839 56.5%
Economists' note : Cash Sales can be a useful indicator of the extent to
which investors are participating in the market. Why? Investors are
far more likely to have the funds to purchase a home available up front,
whereas the typical homebuyer requires a mortgage or some other
form of financing. There are, of course, many possible exceptions, so
this statistic should be interpreted with care.
2012
2013 -7.8%
-0.7%
2011
2010
2009
2008
10,360
11,233
11,310
3,730
Year Cash SalesPercent Change
Year-over-Year
2013 77.0% -4.3%
N/A
YearPercent of Closed
Sales Paid in Cash
Percent Change
Year-over-Year
38.9%
8,144 39.5%
45%
55%
65%
75%
85%
Pct
. of
Clo
sed
Sa
les
Pai
d in
Cas
h
3,600
5,600
7,600
9,600
11,600
13,600
Cas
h S
ale
s
Yearly Market Detail - 2013
2008 2009 2010 2011 2012 2013
Palm Beach County Townhouses and Condos
Cash Sales The number of Closed Sales during the year in which buyers exclusively paid in cash
2008 2009 2010 2011 2012 2013
Cash Sales as a Percentage of Closed Sales The percentage of Closed Sales during the year which were Cash Sales
Produced by Greater Fort Lauderdale REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Tuesday, February 11, 2014. Next yearly data release is TBD.
Economists' note : Because of the typical length of time it takes for a
sale to close, economists consider Pending Sales to be a decent
indicator of potential future Closed Sales. It is important to bear in
mind, however, that not all Pending Sales will be closed successfully.
So, the effectiveness of Pending Sales as a future indicator of Closed
Sales is susceptible to changes in market conditions such as the
availability of financing for homebuyers and the inventory of
distressed properties for sale.
Economists' note : In a recovering market, we expect that new listings
will eventually rise as sellers raise their estimations of value. But this
increase will take place only after the market has turned up, so New
Listings are a lagging indicator of the health of the market. Also be
aware of properties which have been withdrawn from the market and
then relisted. These are not really New Listings.
2010
2009
2011
2008
2013
2012
2011
2010
23.7%
14,039
11,175
6,775 N/A
33.3%
2008 25,447 N/A
-9.9%
21,828 1.3%
21,556 -5.5%
22,813 -8.4%
8.6%24,892
22,922
Year
YearPercent Change
Year-over-YearNew Listings
Percent Change
Year-over-YearNew Pending Sales
19,203 17.5%
16,343 16.4%
2013
2012
2009 9,034
25.6%
21,400
22,400
23,400
24,400
25,400
26,400
Ne
w L
isti
ngs
6,600
11,600
16,600
21,600
Pe
nd
ing
Sale
s
Yearly Market Detail - 2013
2008 2009 2010 2011 2012 2013
Palm Beach County Townhouses and Condos
New Pending Sales The number of property listings that went from "Active" to "Pending" status during the year
2008 2009 2010 2011 2012 2013
New Listings The number of properties put onto the market during the year
Produced by Greater Fort Lauderdale REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Tuesday, February 11, 2014. Next yearly data release is TBD.
Economists' note : As noted above, we prefer Median Sale Price over
Average Sale Price as a summary statistic for home prices. However,
Average Sale Price does have its uses—particularly when it is analyzed
alongside the Median Sale Price. For one, the relative difference
between the two statistics can provide some insight into the market for
higher-end homes in an area.
2009 $170,496 -26.5%
2008 $232,096 N/A
2012 $88,000 12.8%
Economists' note : Median Sale Price is our preferred summary
statistic for price activity because, unlike Average Sale Price, Median
Sale Price is not sensitive to high sale prices for small numbers of
homes that may not be characteristic of the market area.
2009 $107,000 -26.2%
2008 $145,000 N/A
2011 $78,000 -13.6%
Median Sale PricePercent Change
Year-over-YearYear
2013 $112,000 27.3%
2010 $90,313 -15.6%
$195,703 17.8%
Average Sale PricePercent Change
Year-over-YearYear
2013
13.9%
2011 $145,914 -13.9%
2010 $169,405 -0.6%
2012 $166,144
$130K
$150K
$170K
$190K
$210K
$230K
$250K
Ave
rage
Sal
e
Pri
ce
$60K
$80K
$100K
$120K
$140K
$160K
Me
dia
n S
ale
Pri
ce
Yearly Market Detail - 2013
2008 2009 2010 2011 2012 2013
Palm Beach County Townhouses and Condos
Median Sale Price The median sale price reported for the year (i.e. 50% of sales were above and 50% of sales were below)
2008 2009 2010 2011 2012 2013
Average Sale Price The average sale price reported for the year (i.e. total sales in dollars divided by the number of sales)
Produced by Greater Fort Lauderdale REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Tuesday, February 11, 2014. Next yearly data release is TBD.
Economists' note : The Average Percent of Original List Price Received
is an indicator of market conditions, in that in a recovering market, the
measure rises as buyers realize that the market may be moving away
from them and they need to match the selling price (or better it) in
order to get a contract on the house. This is usually the last measure to
indicate a market that has shifted from down to up, and is another
lagging indicator.
2009 81.2% 1.5%
2008 80.0% N/A
2012 84 -10.6%
Economists' note : Median Days on Market is the amount of time the
"middle" property selling this year was on the market. That is, 50% of
homes selling this year took less time to sell, and 50% of homes took
more time to sell. We use the median rather than the average because
the median is not particularly sensitive to sales of homes that took an
unusually large amount of time to sell relative to the vast majority of
homes in the market.
2009 123 -10.9%
2008 138 N/A
2011 94 -9.6%
Median Days on
Market
Percent Change
Year-over-YearYear
2013 60 -28.6%
2010 104 -15.4%
92.1% 2.2%
Avg. Pct. of Orig. List
Price Received
Percent Change
Year-over-YearYear
2013
3.3%
2011 87.2% 2.3%
2010 85.2% 4.9%
2012 90.1%
75%
80%
85%
90%
95%
Avg
. Pct
. o
f O
rig.
Li
st P
rice
R
ece
ive
d
0
50
100
150
Me
dia
n D
ays
on
M
arke
t Yearly Market Detail - 2013
2008 2009 2010 2011 2012 2013
Palm Beach County Townhouses and Condos
Median Days on Market The median number of days that properties sold during the year were on the market
2008 2009 2010 2011 2012 2013
Average Percent of Original List Price Received The average of the sale price (as a percentage of the original list price) across all properties selling during the year
Produced by Greater Fort Lauderdale REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Tuesday, February 11, 2014. Next yearly data release is TBD.
Year
2013
-19.5%
-10.4%
2010
-29.4%
2008 28.9 N/A
Economists' note : This is an indicator of the state of the market,
whether it is a buyers' market or a sellers' market. The benchmark for
a balanced market (favoring neither buyer nor seller) is 5.5 Months of
Inventory. Higher numbers indicate a buyers' market, lower numbers
a sellers' market.
2009 20.4
5.4
2012 7,054
16.4
-37.0%
Economists' note : There are a number of ways to calculate Inventory,
so these numbers may not match up to others you see in your market.
We calculate Inventory by counting the number of active listings on the
last day of the year, and hold this number to compare with the same
calculation for the following year.
2009 14,838 -7.4%
2008 16,028 N/A
2011 11,199 -24.5%
2010 14,825
InventoryPercent Change
Year-over-YearYear
2013 6,091 -13.7%
-0.1%
2012 6.1 -37.0%
2011 9.6 -41.3%
Months SupplyPercent Change
Year-over-Year
5,900
7,900
9,900
11,900
13,900
15,900
17,900
Inve
nto
ry
Yearly Market Detail - 2013
2008 2009 2010 2011 2012 2013
Palm Beach County Townhouses and Condos
Inventory (Active Listings) The number of property listings active at the end of the year
4.0
9.0
14.0
19.0
24.0
29.0
34.0
Mo
nth
s Su
pp
ly o
f In
ven
tory
2008 2009 2010 2011 2012 2013
Months Supply of Inventory An estimate of the number of months it will take to deplete the current Inventory given recent sales rates
Produced by Greater Fort Lauderdale REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Tuesday, February 11, 2014. Next yearly data release is TBD.
$100,000 - $149,999 2,357 3.6%
Sale Price Closed SalesPercent Change
Year-over-Year
Less than $50,000 2,400 -27.1%
$50,000 - $99,999 3,776 -12.9%
$150,000 - $199,999 1,476 13.6%
$200,000 - $249,999 858 21.4%
$50,000 - $99,999 48 -29.4%
$100,000 - $149,999
$400,000 - $599,999 560 20.7%
$600,000 - $999,999 426 19.7%
45 -42.3%
Economists' note : Closed Sales are one of the simplest—yet most
important—indicators for the residential real estate market. When
comparing Closed Sales across markets of different sizes, we
recommend using the year-over-year percent changes rather than the
absolute counts. Realtors® and their clients should also be wary of
month-to-month comparisons of Closed Sales because of potential
seasonal effects.
Sale PriceMedian Days on
Market
Percent Change
Year-over-Year
Less than $50,000 63 -18.2%
$1,000,000 or more 287 23.7%
$250,000 - $299,999 592 18.2%
$300,000 - $399,999 717 46.0%
Economists' note: Median Days on Market is the amount of time the
"middle" property selling this year was on the market. That is, 50% of
homes selling this year took less time to sell, and 50% of homes took
more time to sell. We use the median rather than the average because
the median is not particularly sensitive to sales of homes that took an
unusually large amount of time to sell relative to the vast majority of
homes in the market.
$150,000 - $199,999 54 -42.6%
$200,000 - $249,999 65 -42.0%
$250,000 - $299,999
$400,000 - $599,999 121 -16.0%
86 -20.4%
$300,000 - $399,999 91 -37.7%
$600,000 - $999,999 139 -9.7%
$1,000,000 or more 130 -24.0%
0 20 40 60 80
100 120 140 160
Less than $50,000
$50,000 - $99,999
$100,000 - $149,999
$150,000 - $199,999
$200,000 - $249,999
$250,000 - $299,999
$300,000 - $399,999
$400,000 - $599,999
$600,000 - $999,999
$1,000,000 or more
Me
dia
n D
ays
on
Mar
ket
0 20 40 60 80 100 120 140 160
0 500
1,000 1,500 2,000 2,500 3,000 3,500 4,000
Less than $50,000
$50,000 - $99,999
$100,000 - $149,999
$150,000 - $199,999
$200,000 - $249,999
$250,000 - $299,999
$300,000 - $399,999
$400,000 - $599,999
$600,000 - $999,999
$1,000,000 or more
Clo
sed
Sal
es
0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000
Yearly Market Detail - 2013
Palm Beach County Townhouses and Condos
Closed Sales by Sale Price The number of sales transactions which closed during the year
Median Days on Market by Sale Price The median number of days that properties sold during the year were on the market
Produced by Greater Fort Lauderdale REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Tuesday, February 11, 2014. Next yearly data release is TBD.
Initial Listing Price New ListingsPercent Change
Year-over-Year
Less than $50,000 3,218 -26.3%
$50,000 - $99,999 5,654 -8.2%
$100,000 - $149,999 3,710 16.4%
Economists' note: In a recovering market, we expect that new listings
will eventually rise as sellers raise their estimations of value. But this
increase will take place only after the market has turned up, so New
Listings are a lagging indicator of the health of the market. Also be
aware of properties which have been withdrawn from the market and
then relisted. These are not really New Listings.
$150,000 - $199,999 2,410 14.0%
$200,000 - $249,999 1,587 36.0%
$250,000 - $299,999 1,169 14.3%
$300,000 - $399,999 1,364 29.0%
$400,000 - $599,999 1,177 8.3%
$600,000 - $999,999 873 9.1%
$1,000,000 or more 666 11.6%
Current Listing Price InventoryPercent Change
Year-over-Year
Less than $50,000 745 -29.8%
$50,000 - $99,999 1,193 -17.1%
$100,000 - $149,999 776 -7.2%
Economists' note: There are a number of ways to calculate Inventory,
so these numbers may not match up to others you see in your market.
We calculate Inventory by counting the number of active listings on the
last day of the year, and hold this number to compare with the same
calculation for the following year.
$150,000 - $199,999 579 -11.5%
$200,000 - $249,999 465 0.4%
$250,000 - $299,999 411 -2.6%
$300,000 - $399,999 533 -15.0%
$400,000 - $599,999 545 -12.2%
$600,000 - $999,999 454 -12.2%
$1,000,000 or more 390 -5.6%
0
1,000
2,000
3,000
4,000
5,000
6,000
Less than $50,000
$50,000 - $99,999
$100,000 - $149,999
$150,000 - $199,999
$200,000 - $249,999
$250,000 - $299,999
$300,000 - $399,999
$400,000 - $599,999
$600,000 - $999,999
$1,000,000 or more
Ne
w L
isti
ngs
0
1,000
2,000
3,000
4,000
5,000
6,000
0
200
400
600
800
1,000
1,200
1,400
Less than $50,000
$50,000 - $99,999
$100,000 - $149,999
$150,000 - $199,999
$200,000 - $249,999
$250,000 - $299,999
$300,000 - $399,999
$400,000 - $599,999
$600,000 - $999,999
$1,000,000 or more
Inve
nto
ry
0
200
400
600
800
1,000
1,200
1,400
Yearly Market Detail - 2013
Palm Beach County Townhouses and Condos
New Listings by Initial Listing Price The number of properties put onto the market during the year
Inventory by Current Listing Price The number of property listings active at the end of the year
Closed Sales
Median Sale Price
Closed Sales
Median Sale Price
Closed Sales
Median Sale Price
A
M
J
J
A
S
O
N
D
J
F
M
A
M
J
J
Produced by Greater Fort Lauderdale REALTORS® with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Tuesday, February 11, 2014. Next yearly data release is TBD.
2013 2012Percent Change
Year-over-Year
Traditional
10,796 10,610 1.8%
$127,500 $97,500 30.8%
Foreclosure/REO
1,397 1,294 8.0%
$80,000 $65,500 22.1%
Short Sale
1,256 2,049 -38.7%
$85,500 $78,000 9.6%
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
Me
dia
n S
ale
Pri
ce
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Clo
sed
Sal
es
Traditional Foreclosure/REO Short Sale
2008 2009 2010 2011 2012 2013
Yearly Market Detail - 2013
Palm Beach County Townhouses and Condos
2008 2009 2010 2011 2012 2013