Matrix Blog

Posts Tagged ‘downloads’

[Ready, Set, Download] South Florida Market Reports 1Q 2014

April 18, 2014 | 4:01 pm | delogo | Reports |

Our 4 comprehensive reports for Douglas Elliman on the residential sales markets for Miami, Boca Raton, Fort Lauderdale and Palm Beach this week.

Click on each report to download!

Miami_1Q14

MIAMI
With the Miami housing market well into the third year of its recovery, rising prices have begun to pull listing inventory into the market. Median sales price increased 16.1% to $244,000, the highest point reached since 2008. Average sales price jumped 19.1% to $461,374 over last year to a 5 year high and average price per square foot exceeded $305 per square foot for the first time in 6 years. Listing inventory bottomed in the second quarter of 2013, trending higher, up 15.2% to 12,664 from the prior year quarter. Along with the rise in supply, demand continued to rise. The number of sales rose 3.9% to 5,133 from the prior year quarter, to the highest first quarter total in the 8 years this metric has been tracked. The market share of distressed sales, once the majority of the market, continued to decline. Excluding short sales and foreclosures, market share rose to 69.4%, the highest level reached in the 4 years this metric has been tracked. The number of distressed listings and distressed With the Miami housing market well into the third year of its recovery, rising prices have begun to pull listing inventory into the market. Median sales price increased 16.1% to $244,000, the highest point reached since 2008. Average sales price jumped 19.1% to $461,374 over last year to a 5 year high and average price per square foot exceeded $305 per square foot for the first time in 6 years…

BocaRaton_1Q14

BOCA RATON
CONDO Median sales price surged 16.3% to $150,000 and average sales price declined 8.8% to $229,569 respectively from the prior year quarter. Listing discount, the percent difference between the list price at time of contract and the sales price, rose to 7% from 3.8% in the prior year quarter, but fell from 7.7% in the prior quarter…

SINGLE FAMILY Median sales price jumped 19.4% to $370,000 and average sales price rose 5.3% to $528,616 respectively from the prior year quarter. Listing discount edged up to 6.9% from 6.1% in the prior year quarter, as sellers were slightly more optimistic when determining their listing price…

FtLauderdale_1Q14

FORT LAUDERDALE
CONDO Median sales price jumped 19.8% to $255,000 from the same quarter last year, the highest level reached since 2008. Average sales price followed the same pattern, rising 23.9% to $379,391 over the same period also reaching a 5 year high.

SINGLE FAMILY The average time to market a property was 91 days, essentially unchanged from 90 days in the prior year quarter. Listing discount, the percentage difference between the list price at time of contract and the sales price, jumped to 8.1% from 4.5% as sellers pressed list prices higher than market trends support.

PalmBeach_1Q14

PALM BEACH
CONDO There were 68 sales during the quarter, 25.9% more than the same period last year. Listing inventory fell 16.9% to 360 over the same period. As a result the absorption rate, the number of months to sell all inventory at the current pace of sales, fell 34% to 15.9 months from the same period last year. The faster market pace pushed down days on market, the number of days from the last price change to the contract date, by 10 days to an average of 182 days.

SINGLE FAMILY Median sales price increased 10.7% to $3,100,000 from the prior year quarter to the highest first quarter reached since 2009. Average sales price jumped 56.7% to $6,450,093 over the same period. The average square footage of a sale was 5,261, up 20.9% from the prior year quarter.

Tags:


Ready, Set, Download: 1Q 2014 Market Reports for Brooklyn, Queens and Westchester/Putnam Sales

April 12, 2014 | 1:49 pm | delogo |

We released 3 reports for Douglas Elliman on the sales markets for Brooklyn, Queens and Westchester/Putnam this week. Click on the reports to download!

Brooklyn_1Q_2014 BROOKLYN The Brooklyn housing market was characterized by more modest price growth and chronic lack of inventory, holding back sales growth. Median sales price expanded 1% to $520,000 from the same period last year and the highest first quarter result in 6 years. Average sales price grew 7.3% to $681,182 over the same period. Co-ops posted the largest year-over-year gain in median sales price, rising 12.2% to $340,000 but lost 2.1% of the market share. Condos remained essentially unchanged over the year with a $625,000 median sales price and market share edged 1.6% higher. The 1-3 family median sales price increased 5.1% to $588,733 and market share increased a nominal 0.5%…

Queens_1Q_2014 QUEENS The first quarter Queens housing market was a period of rising prices after an extended period of stability, declining inventory, and rising sales. The bottom of the multi-year decline of listing inventory may have been reached in the fourth quarter of 2013. Although the first quarter listing inventory increased 7% from the prior quarter bottom to 5,617, it was the second lowest level recorded in this report series since 2005 and 13.5% below prior year levels. The number of sales jumped 32.8% to 3,156 from the prior year quarter, the highest first quarter total in 6 years. The combination of declining inventory and rising sales led to a faster market pace. The absorption rate, the number of months to sell all listing inventory at the current pace of sales, fell to 5.3 months, less than half the 11.2 month average over the past 5 years…

Westchester_1Q_2014 WESTCHESTER The Westchester housing market saw the most first quarter sales in 7 years, the highest median sales price in 6 years and initial signs that the trend of declining inventory may be ending. There were 1,525 sales in the first quarter, up 13.1% from the prior year quarter and the most first quarter sales since the same period 7 years ago. Listing inventory fell 3.7% to 5,378 from the same period last year and for the 8th consecutive quarter. With the rise in the number of sales and the decline in listing inventory, the pace of the market was faster. The monthly absorption rate, defined as the number of months to sell all inventory at the current pace of sales, fell by 1.8 months to 10.6 months from the prior year quarter…
PUTNAM After bottoming out two years ago, housing prices have generally trended higher as the number of sales expanded and inventory contracted. All price indicators posted gains from prior year levels. Median sales price increased 12.7% to $302,500 while average sales price rose 15.9% to $379,217 over the same period…

Tags: