Palmetto Bay Update
16
PALMETTO BAY UPDATE What's Happening in your area? Jason Pappas Realtor Associate Phone: (305) 494- 4542 JasonPappas@Keyes .com
description
Palmetto Bay Update. What's Happening in your area?. Jason Pappas Realtor Associate Phone: (305) 494-4542 [email protected]. 2006-2009 Houses are still selling. - PowerPoint PPT Presentation
Transcript of Palmetto Bay Update
PALMETTO BAY UPDATEWhat's Happening in your area?
Jason PappasRealtor AssociatePhone: (305) [email protected]
2006-2009Houses are still sellingLet us start with the obvious. It is not 2006
anymore. The average price in Palmetto bay has dropped roughly 37% from 2006-2009 with average prices falling from $651,297 to $413,292. So what is the good news? Contrary to popular belief, houses are still selling. Activity in the market is picking up. After seeing a lull in 2008 with under 190 homes sold in Palmetto Bay, 2009 saw over 210 sold and while still early, 2010 should be over 200 homes as well. Jason Pappas
Realtor AssociatePhone: (305) [email protected]
2006-2009 Palmetto Bay
Year
Average Selling Price
Selling Price Per
SQFT
Average Number
of days on Market
# of Properties
Closed
2006 $651,297 $230 75 257
2007 $609,095 $215 99 214
2008 $471,342 $168 114 187
2009 $413,292 $146 127 212
2010 $368,000 $147 126 17
Jason PappasRealtor AssociatePhone: (305) [email protected]
Closed Properties in Palmetto Bay
2006 2007 2008 2009 2010 (Projected)175185195205215225235245255265
Jason PappasRealtor AssociatePhone: (305) [email protected]
2006 2007 2008 2009 2010 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 $500,000 $550,000 $600,000 $650,000 $700,000
Average Selling Price In Palmetto Bay
Jason PappasRealtor AssociatePhone: (305) [email protected]
Jason PappasRealtor AssociatePhone: (305) [email protected]
By the Numbers:Properties Closed From
December 2009 – February 2010Closed Price All NW NE SW SE
Number Closed 38 5 7 19 7Average Listed $460,585 $435,580 $737,700 $358,359 $478,800Average Selling $435,369 $411,954 $670,857 $343,539 $465,857
High Price $1,450,000 $512,000 $1,450,000 $620,000 $775,000Low Price $140,000 $313,500 $352,000 $140,000 $205,000
Total Volume $16,544,022 $2,059,772 $4,696,000 $6,527,250 $3,261,000Average Price per sqft $157.82 $164.5 $197.7 $142.7 $154.3
Jason PappasRealtor AssociatePhone: (305) [email protected]
Price Listed vs. Price Sold
Listed Sold0100,000200,000300,000400,000500,000600,000700,000800,000
435,580 411,954
737,700670,857
358,359 343,539
478,800 465,857
NW NE SW SE Jason PappasRealtor AssociatePhone: (305) [email protected]
Closed Properties in NW Palmetto Bay
ADDRESS SSL REO LA SF SP$Closing
Date #GAR #BEDS #FB #HB POOL WTRFR SP$/SqFt
14550 SW 81 AV N N 2693 18731 445,000 1/12/2010 2 4 2 0Y N $165.243
8341 SW 142 ST N N 1976 17017 313,500 1/8/2010 0 4 3 0Y N $158.654
8400 SW 148 DR N N 2586 15097 429,272 12/30/2009 2 3 2 0Y N $165.999
7971 SW 140 TE N N 2652 19127 512,000 12/23/2009 2 4 2 0Y Y $193.062
14850 SW 87 AV N Y 2581 15180 360,000 12/22/2009 2 4 2 0N N $139.481
Jason PappasRealtor AssociatePhone: (305) [email protected]
Closed Properties in NE Palmetto Bay
ADDRESS SSL REO LA SF SP$ Closing Date #GAR #BEDS #FB #HB POOL Water SP$/SqFt
14730 SW 75 AV Y N 2988 15656 550,000 1/7/2010 2 4 3 0Y Y $184.07
6785 SW 146 ST Y N 2680 18450 435,000 12/30/2009 2 4 2 0Y N $162.31314025 OLD CUTLER N N 3133 78407 635,000 12/22/2009 2 3 2 0Y N $202.681
13601 SW 77 AV N N 2095 15000 352,000 12/15/2009 0 3 2 0Y N $168.019
5840 PARADISE PT N N 4040 6635 1,450,000 12/10/2009 2 4 3 1N Y $358.911
13635 SW 74 AV N N 2991 17040 449,000 12/3/2009 2 4 2 1Y N $150.117
14901 SW 74 AV N N 5222 43124 825,000 12/2/2009 2 6 3 1Y N $157.985
Jason PappasRealtor AssociatePhone: (305) [email protected]
Closed Properties in SW Palmetto Bay
ADDRESS SSL REO LA SF SP$ Closing Date #GAR #BEDS #FB #HB POOL Water SP$/SqFt
16455 SW 91 AV N N 1804 20473 300,000 2/24/2010 0 4 3 0 N N $166.297
16840 SW 87 AV N N 2490 15372 372,500 2/19/2010 2 3 2 0 Y Y $149.598
9115 SW 160 TE N N 1861 5203 320,000 2/16/2010 2 4 3 0 N Y $171.951
9114 SW 163 TE Y N 2212 7875 290,000 2/10/2010 2 3 2 0 N N $131.103
8284 SW 177 TE N N 3015 15982 454,000 1/22/2010 2 4 3 0 Y N $150.58
8785 SW 176 TE N N 2327 15000 352,000 1/15/2010 2 3 2 0 Y N $151.268
17520 SW 84 CT N N 2158 15038 315,000 1/15/2010 0 3 3 Y N $145.969
16641 SW 92 AV N Y 1422 12360 148,000 1/6/2010 2 3 2 0 N N $104.079
8890 SW 154 TE N N 2770 0 410,000 12/31/2009 2 4 3 0 Y N $148.014
Jason PappasRealtor AssociatePhone: (305) [email protected]
Closed Properties in SE Palmetto Bay
ADDRESS SSL REO LA SF SP$ Closing Date #GAR #BEDS #FB #HB POOL Water SP$/SqFt
7804 SW 178 TE N N 2635 15000 441,000 2/18/2010 2 4 2 0Y N $167.362
16120 SW 76 AV N N 2721 18330 480,000 1/29/2010 2 4 3 0Y N $176.406
7880 SW 180 ST N Y 4195 15246 425,000 1/28/2010 2 4 3 0Y N $101.311
7475 SW 167 ST N N 1700 10000 205,000 1/12/2010 0 3 2 0N N $120.588
15585 OLD CUTLER RD N N 3313 30056 575,000 12/17/2009 2 4 3 0N N $173.559
15215 SW 78 PL N N 2212 16560 360,000 12/14/2009 2 3 2 0Y N $162.749
15605 SW 73 CT N N 4358 30492 775,000 12/11/2009 2 5 4 0Y N $177.834
Jason PappasRealtor AssociatePhone: (305) [email protected]
Why are Prices so low?
2005 2006 2007 2008 2009 -
10,000 20,000 30,000 40,000 50,000 60,000 70,000
7,829 9,814
26,391
56,656 64,001
Number of Foreclosure fillings in Miami-Dade County
*Information from Miamidade.gov
Jason PappasRealtor AssociatePhone: (305) [email protected]
Foreclosures and Short Sales Closed December 2009 – February 2010
6
6
29
Palmetto Bay
ForeclosuresShort SalesNormal
Jason PappasRealtor AssociatePhone: (305) [email protected]
Active Foreclosures and Short Sales
39
5
113
Palmetto Bay
Short SalesForeclosuresNormal
Jason PappasRealtor AssociatePhone: (305) [email protected]
Jason PappasRealtor AssociatePhone: (305) [email protected]
Miamidade.gov http://sef.mlxchange.com
References
