Parkland Florida Real Estate Market Trends (Jan-Aug 2019)

REAL ESTATE MARKET REPORT YTD

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Content

• Market Trends 4-12 • What’s For Sale 13 -14 • Featured Listings 15-19 • New Condo Developments 20-23 • Good To Know 24-26 • About Me - Importance to You 27 • Travel, Eat, Drink, Happy

Tail End of Mag

Parkland Market Trends YTD

General Market Trends Parkland Real Estate Jan 1st – Aug 31 2019

Overall: The Parkland Market is Good ▪ ▪ ▪ ▪ ▪

YTD Sales are 4.8% higher than in 2018. Higher priced new construction may be influencing as the price per square foot skews much higher here.

YTD Average Sales Price for Sold Homes is $679,599 – up slightly from last year.

YTD the Average Days on Market (DOM) is 81 and this varies by season and price of home.

Time on market generally increases off-season and with higher priced homes.

The Sales Price vs List Price Percentage varies based on seasonality & most importantly by price of home.

Note: It is most important to look at trends by price range. General trends are ok but if you are a seller, you want to know Sales to List Price %, Days on Market, Price Per Square Foot for your price range. There are significant differences by price range…. This helps you better plan.

Please Note: Reports Generated from MLS Information

Days on the Market (DOM) General Averages Across All Homes Sold

The average Days On Market (DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM (more days on the market before selling) tends to indicate a move towards more of a Buyer's market; a downward trend (fewer days on the market before selling) indicated a move towards more of a Seller's market.

The DOM for August was 88, beginning an upward trend (DOM in July was 62) Newer/new construction homes have added to sale inventory so buyers have many choices and inventory takes longer to sell – trending to a Buyers Market.

About Seasonality.

• In a Seller’s Market - homes have shortest times on market. Typically early- to mid-summer closings (coming from listings in the spring & motivated buyers) •

In a Buyer’s Market - homes stay on the market longer and homes are sold at lower than list price to varying degrees. We are now transitioning to a buyer’s market now from August and into the winter.

The Average Selling Price Per Square Foot General Averages Across All Homes Sold The Selling Price per Square Foot is an indicator for the direction of Property values.

Since Median Sales Price and Average Sales price can be impacted by the 'mix' of high or low priced Properties in the market, the selling price per square foot is a more normalized indicator for the direction of Property values. The August 2019 Selling Price per Square Foot of $170 was down -0.6% from $171 in July and down -2.9% from $175 in August of last year.

My Analysis: The price per square foot peaked earlier than usual this year April – June (new construction developments?), perhaps skewing August lower. After staying pretty flat over the last few years, the price per square foot has been trending up this past year.

Selling Price vs Listing Price General Averages Across All Homes Sold The Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their list price.

- If a home sells at 98% of List Price – more of a Seller’s Market - If a home sells at a much lower % of List Price – More of a Buyer’s Market [The lower the percentage is below 100% shows more of a Buyer’s Market] The August 2019 Selling Price vs List Price of 92.8% was down from 95.1% in July and down from 95.2% in August of last year. This percentage varies with seasonality, inventory of homes for sale, new development impact on re-sales generally.

As with days on the market, seasonality is at work, and homes sell closest to list price in Spring – with motivated buyers wanting to close in the summer before school begins.

Differences have been greater this year than in previous years.

It was a Buyer’s market Jan-March (off-season) & part of April. It trended to a Seller’s Market beginning in late April & May because buyers needed/wanted to move before the school year.

Seller’s got their price. They closed on their homes in July ready for August school. Demand has lessened now…. a regular expected trend.

2019

Estimating

Jan

Feb

Mar

Apr

May

Jun

Jul

92 %

90.5%

91%

93%

94.5%

95%

95% 92.8%

Aug

The Number of Listed Properties Sold In Parkland

By Month, By Price *Per MLS data/reports

JAN

FEB

MAR

APR

MAY

JUNE

JULY

AUG

JAN-AUG

UP TO $400,000

1

0

1

0

1

2

0

1

6

$401,000 - $600,000

6

6

6

9

21

15

16

19

98

24.87%

$601,000 - $900,000

14

19

29

27

32

33

33

41

228

57.87%

$901,000 - $2,000,000

1

4

8

4

11

8

13

9

58

14.72%

$2,000,000 +

0

0

0

2

0

0

2

0

4

TOTAL

22

29

44

42

65

58

64

70

394

Average Price

▪

$617,489 $673,702

$728,456

$760,967

$674,795

$676,933

$754,096

%

$694,691 $703,424

Please Note: Homes in the $600,000-$900,000 range accounted for the majority of sales (57.87%) ➢ These homes sold relatively fast & faster than higher priced homes (DOM) ➢ Sale to List Price % was high – holding at 95% or better in this price range

DAYS ON MARKET (DOM)

BY PRICE RANGE*

Homes Sold: $401,000 - $600,000

Homes Sold: $601,000 - $900,000

Homes Sold: $901,000 - $2,000,000

* I have excluded info for homes under $400,000 and above $2 Million as data is limited and not meaningful.

DAYS ON MARKET (DOM)

BY PRICE RANGE* $401,000 - $600,000

$601,000 - $900,000

$901,000 - $2,000,000

Days on the market generally increases with higher priced homes

* I have excluded info for homes under $400,000 and above $2 Million as data is limited and not meaningful.

SOLD PRICE TO LIST PRICE

BY PRICE RANGE*

$401,000 - $600,000

$601,000 - $900,000

$901,000 - $2,000,000

The sold to list price percentages generally decrease with higher priced homes

* I have excluded info for homes under $400,000 and above $2 Million as data is limited and not meaningful.

Current Homes for Sale Click Each Link Below • • • • •

To $400,000 $401,000 to $600,000 $601,000 to $$900,000 $901,000 to $2,000,000 $2,000,001+

From MLS

Capturing Homes from Every Angle Photos from featured listings

Videography/Movies – Also Used to Make Homes “Come Alive”

Featured Listings

Parkland Golf / $1,225,000

For Sale

Stunning Upgraded home with pool and golf views. 5 bedrooms, 5.5 baths, 3 car garage. Incredible gourmet kitchen with top of the line stainless appliances, gas cooking. Contemporary fixtures & window treatments. Master bedroom/balcony overlook golf course with extra office area. High tech entertainment system with speakers throughout home. Pool with marble patio & summer kitchen. Upgraded wood and marble floors. Fully fenced yard, impact glass, custom closets and more. Upgraded landscaping.

Parkland Golf / $1,189,900

For Sale

Gorgeous home with golf views, custom pool & Hot tub, marble paver patio. 5 bds + huge bonus area, 4.5 baths. Gourmet kitchen. Master with balcony overlooking golf. Upgraded baths. Impact windows. Plantation shutters & Hunter Douglas window treatments. Stunning golf views. 12 camera security. Gated community with resort amenities.

Mira Lago / $1,200,000

Temporarily Off Market

Gorgeous estate home with 6 bedrooms, 6.5 baths, 3 car garage. Investors only. Rented for $5500 until May 2020. Pool & endless water views. Huge pie shaped lot on cul-de-sac is fully fenced. 2 master bedrooms with 1 upstairs and 1 downstairs. Gourmet kitchen with stainless appliances, white with quartz counter. Kitchen open to spacious family room. Amazing panoramic lake views from the entire home. Resort style pool with marble pavers, oversized patio with covered area. Impact glass and doors. Stunning wood floors. All bedrooms have their own bath. HOA includes yard.

Parkland Golf / $1,190,000

Temporarily Off Market

Beautiful Bolano model on golf course with lake views. Investors only.

Rented until July 2020 at $6K per month. Buyer would accept lease condition. 5 bedrooms, 4.5 baths. Incredible gourmet kitchen with stainless appliances and island. Master bedroom with balcony overlooking golf course and lake. Available furnished or not. Master bath with upgrades and marble throughout. Impact glass.

Boca Raton / $ 484,900

Closed Sale

Exquisite home. Serene tropical feel - interior & backyard. Open plan/lots of light.4 bd, 3 bath home. Meticulously maintained. Beautiful interior design/clean lines. Tile & wood floors. Large white eat-in kitchen open to family rm. Custom plantation shutters throughout. Arched shuttered windows: living, family & master bd. Huge Master Bd: 2 walk-ins; separate tub/shower/toilet. Custom built-ins: family, master, 4th bd (ofc). Storage optimized. Private tropical backyard. Renovated paver patio w/ date palm, orchids, tiered landscaping, lighting. Newer barrel roof/ACs. Accordion shutters - even for screened patio. Gated. Across from park.

Parkland Golf / $4995 Rental Closed Transaction BEAUTIFUL WATERFRONT HOME WITH POOL. 4 Bedrooms + Large Office (5th bd), 3 Baths. Over 3000 Sq Ft AC. Lagoon style pool & spa just remodeled. Hurricane Impact Glass. Marble & Brazilian Cherry Floors. High coffered ceilings/crown molding. Formal dining/living rm; kitchen open to family rm with views to pool/water. Gourmet kitchen has a large 48� stainless steel Kitchen Aid refrigerator-water and ice dispenser, double ovens, microwave, pantry, granite counter tops. Center island w seating. Garage has efficient storage system. Fenced backyard southern exposure overlooking preserve area.

Parkland Golf / $1,625,000

Closed Sale

Ternbridge model w/ heated pool & spa. 6 bedrooms & 5 baths in this Estate home. Gourmet Kitchen w/ Stainless SubZero 42" fridge, Wolf 36" 6-burner gas stovetop, automatic hot water & Wolf 30" double wall oven. Upgrades include: Outdoor gazebo ready for summer kitchen, lush landscaping w/outdoor lighting, custom fireplace, expanded dining room, surround sound outside, central vacuum, custom moulding throughout, coffered ceilings, upgraded flooring, wood double staircase w/ wrought iron rails, wood flooring, impact glass windows and custom closets.

Parkland Bay / $808,710

Closed Sale

3 Bedrooms + Large Office – 3.5 Baths – 3 Car Garage. Beautiful new waterfront home with breathtaking panoramic views of the 178 acre lake.

OPen floor plan with tall coffered ceilings. Pale grey porcelain floors. Stunning White kitchen with quartz countertops. Kitchen open to grand great room.

Huge master suite with views of the lake. Enormous master bath with free standing tub and large shower, double vanities.

THINKING ABOUT Downsizing?

City Living?

Oceanfront Living?

I HAVE YOU COVERED

Stunning New Luxury Condo Developments

If Interested & We Preview Together I Will Give You, the Buyer, $$ Towards Closing

New Developments Across Cities

Riva Ft. Lauderdale

Paramount Ft. Lauderdale

Sabbia Pompano Beach

Palazzo del Sol Fisher Island

The Bristol West Palm Beach

150 Oceanside Delray Beach

3200 S Ocean Highland Beach

Akoya Boca Raton

Auberge Ft. Lauderdale

Tower 155 Boca Raton

111 First Delray Delray Beach

327 Royal Palm Boca Raton

Please Note: All Condo Information & Photos Have Been Provided By the Builders As Unbranded Marketing Material For Realtor/Agent Use I am a realtor and not a sales representative for these condos.

I Live Here. I Work Here. I Know The Area.

Continued: New Developments Across Cities

33 Intracoastal Fort Lauderdale

AquaLuna Las Olas AquaMar AquaBlue Fort Lauderdale Fort Lauderdale Fort Lauderdale

Fendi Chateaux Galleria AquaVue Bal Harbor Fort Lauderdale Fort Lauderdale Aventura

Prive Aventura

Mandarin Oriental

Boca Raton

3550 South Ocean Palm Beach

Oceana Bal Harbor

Alina Boca Raton

Please Note: All Condo Information & Photos Have Been Provided By the Builders As Unbranded Marketing Material For Realtor/Agent Use I am a realtor and not a sales representative for these condos.

I Live Here. I Work Here. I Know The Area.

Good to Know Info

BUYER MISCONCEPTIONS ABOUT "AS IS" and "REGULAR" PURCHASE CONTRACTS

I have had buyers who think that when a house is listed "As Is" it means that they cannot have an inspection and cannot negotiate price given the inspection results. No, this is not true. ALL Buyers are entitled to do an inspection of the entire home! Inspections include: Electrical, AC, Appliances, Plumbing, Structural, Pests, Mold and Chinese Drywall if desired.

The buyer also has the opportunity to negotiate the purchase price based on inspections. The seller may not want to fix anything found but with both types of contracts, the buyer is entitled to an inspection. Don’t assume there is no room for further negotiation just because it is an As-Is Contract.

IMPORTANT POINTS ABOUT INSPECTIONS: As a buyer you are entitled to a full house inspection of a home! You cannot be told parts of the house are off limits! Attics and AC closets may not be locked or blocked. If you believe something cannot be true, call the agent's broker. Protect Yourself.

Do You Need? Do You Know?

Sellers ▪ ▪

▪

▪ ▪ ▪ ▪

Do You Need a Market Evaluation of Your Home?

Did You Know That Zillow Zestimates are Based on Gross Averaging and May Not Be Correct At All???

Same with Realtor.com. [Rely on Realtor Comps Which Focus on Like Properties Like Appraisers Do.] Do You Need to Know What Your Profit May Be if You Sell?

Do You Know That When You List With Me I Give You Your Own Secure Website Portal to Track Your Transaction Progress?

Do You Know That Staging Can Be Helpful?

Do You Know That I Offer Flexible Listing Agreements?

Ask Me Do You Know the Scope of Fine Photography I Provide?

Ask Me

Buyers ▪

▪ ▪ ▪ ▪

Do You Know That - You Do Yourself a Favor By Getting a Mortgage Pre-Qual? This way you know what is best for your budget & lifestyle Do You Know That I Give You Your Own Secure MLS Website Portal to Be Able to Search the MLS Yourself?

Do You Need Simple Explanations About Closing Costs & Statements?

Do You Know that Builders Are Giving Great Incentives to Buyers?

Do You Know That I Can Offer To Cover Some Closing Costs on New Construction Homes

Ask Me. I Am Here to Help You.

About Me Kathy Schroeder ▪ 20+ Years Marketing & Real Estate ▪ Background Top 10 Fortune Company NJ - U.S. & International Marketing -

Market Data Segmentation Infrastructure Complex Business Plan Development Product Development & National Launch Strategic Financial Business Planning

▪ Management Consulting Washington, D.C. ▪ Masters Business Administration ▪ Parkland Resident 20 Years

E. Poirier 8 Members

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Parkland Real Estate Market Report Kathy Schroeder, Realtor 954 235-8671 www.ComeLiveInFlorida.com

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