YEAR IN REVIEW
Traditional Sales Bank-Owned Properties & Short Sales
2012
Month by Month In 2012, August was the highest sales month for both counties combined based on number of transactions, while 2011 saw the strongest combined sales in March. Together, both counties closed a total of 5,303 units in August 2012, down slightly from the high in March 2011 of 5,680. Broward County
Miami-Dade County
DISTRESSED INVENTORY
Currently, the total number of Bank-Owned (REOs) and Short Sales over $1,000,000 in BOTH Miami-Dade and Broward is less than 10! This makes up only .7% of the market, down from 2% mid-year 2012.
# OF HOMES SOLD
6000 4500 3000 1500 0
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
MONTH
Source: Trendgraphix Source: Southeast Florida Regional MLS.
91%
Average Sales Price South Florida continues to enjoy a healthy real estate recovery. Mid-year 2012 saw residential properties up about 20% from the same time in 2011, and even a more robust increase from January 2012 to December 2012. Sold prices in Miami-Dade were up a whopping 48.2% December 2012 compared to January 2012. Broward enjoyed a 24% increase for the same time period.
Source: Trendgraphix
O N E S O T H E B Y S R E A L T Y. C O M
$500K
PRICE
Some of the main indicators of an improving market are DOM (days on market) and SP/LP Ratio (Sale Price to List Price Ratio). Both Miami-Dade and Broward Counties enjoyed significantly improving statistics. The DOM in Miami-Dade decreased 10.2% from January 2012 to January 2013, from 98 days to 88 days. Broward decreased 5.9% during the same period, from 87 to 82 days on the market. Both counties increased from 88% List to Sales Price ratio to 91% List to Sales Price ratio.
Broward County
Miami-Dade County
MARKET UPSWING
$375K
$250K
$125K
$0
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
MONTH Source: Trendgraphix
TRENDS I
07