Since one year ago, the number of active listings is up 67.6% while the sold properties are down 57.1%.
The pended listings under contract are up 26.3 %. When the PENDED LISTINGS indicator is rising, our market is in recovery. Contracts have been written and are anticipated to close.
Average home prices are up. The price per square foot of a single-family residence, is approximately $165 per square foot – which is an increase of 16.3% over last year.
Homes remain on the market an average of 47 days a decrease of 29.9% over last year. Homes are selling within 96% of their originally listed price. As of today’s date there are 83 active listings in zip code 33028 homes newer than 1995.
Part of the reason for this increase people who were previously under water have now placed their homes for sale. As inventory increase the prices level off or start to fall.
The average listed price in 33028 is $435,000.00– a 3.% /decrease over last year. Oddly the average sold price is $455,000.00.
Important information: Months of Inventory. Currently, zip code 33028 is experiencing 9.5 months of inventory which is indicative of a balanced market. The single family homes in this area were experiencing barely 1 to 3 months of inventory. Oddly, in August of 2014, the inventory shot up to 9.6 months. Since our inventory was extremely low for so long, it is a relief to buyers that there is more to chose from –however, prices have leveled.
It is time to list, time to sell, time to upsize, time to downsize — money is still inexpensive to borrow.
Consider what is happening nation
Would you like to see all the data used in this post? FactsAndTrendsReportClass