Since one year ago, the number of active listings is up 19% while the sold properties are up 88.9%.
The pended are (up/down) ______%. 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/down). The price per square foot of a (single-family/condo) residence, is approximately $______ per square foot – which is a/an (increase/decrease) of ______% over last year.
Part of the reason for the (shortage/increase) of inventory: Homes remain on the market an average of _____ days — a/an (increase/decrease) of _______ over last year. Homes are selling within 89% of their originally listed price.
The average listed price in Coconut Grove is $ 1.9MM a _______% (increase/decrease) over last year. The average sold price is $____________.
Important information: Months of Inventory. Currently, Coconut Grove is experiencing ________ months of inventory which is indicative of a (Seller’s/Buyer’s) market. This is a/an _______% (increase/decrease) from a year ago.
It is time to list, time to sell, time to upsize, time to downsize — money is still inexpensive to borrow.
Consider what is happening nationally:
PART II: Using MLS/Fusion and Facts & Trends
__________ (City) Market Update: First Quarter of 2014
Prognosticators stated that 2014 would bring an increase in inventory, which is a welcome relief to buyers, who are competing for great homes and creating a multiple-bid situation in the hottest of neighborhoods.
The housing market is extremely competitive from April through June. The most serious buyers are well aware of this and double their search efforts in early Spring in order to beat the heavy competition. These buyers are ready, willing and able, and as you can see below, are carrying cash.
There are currently ______ single-family homes listed for sale. _______ of those listings are short sales and ______ are foreclosures. The highest priced home is a __________ which is listed over $_________________ Million.
Compared to last year:
Number of homes for sale is up _____%.
Number of homes sold is up _____%.
Average sold price per square foot is up _____%.
Average listed price is down _____%.
Average sold price is up _____%.
‘Months of inventory’ is down _____%.
Our inventory has been so low for so long that the ________% decrease reflects ______ months of inventory. This is still indicative of a ________’s market. A balanced market is 9 to 12 months.
Of the ______ closed sales for this first quarter, _____ buyers paid cash!
What about the luxury market?
Of the _______ homes sold in ______, Florida this year, _____ were priced over One Million Dollars, and ______ of those homes were purchased with cash. There are currently _____ homes in _______ priced over One Million Dollars.
If you are serious about getting the highest price, now is the time to sell. As inventories increase, prices will level.