South Florida’s number of active residential listings decreased by -1 percent on a week-over-week basis to 106,420 condos, townhouses, and single-family houses, while the number of pending sales increased 1 percent to 9,393 properties on Dec. 1, according to a new report from Condo Vultures® Realty LLC.
A week earlier on Nov. 24, there were 107,527 active listings in Miami-Dade, Broward, and Palm Beach counties, and 9,302 pending sales. In the last week, the number of properties for sale shrunk by 1,107, and the number of pending sales expanded by 91.
"The numbers are reflecting the activity that we are seeing on the street," said Peter Zalewski, the broker-owner of Bal Harbour, Fla.-based Condo Vultures® Realty LLC. "We anticipate today's activity to be reflected in closed sales data announced in January and February."
On a product basis, the amount of single-family house inventory decreased by -1.3 percent to a current total of 46,015 compared to 46,599 a week earlier. The condo and townhouse inventory decreased by -0.9 percent to a current total of 60,405 compared to 60,928 a week earlier.
On a county-by-county basis, Broward had the biggest decrease in inventory falling -1.5 percent to 36,364 from last week’s total of 36,926. Miami-Dade experienced a -1.3 percent drop in inventory, falling to present total of 40,475 from 40,994 a week earlier. Palm Beach had minimal movement, slipping -0.1 percent to 29,581 actively available properties from a total of 29,607 a week earlier.
Peter Zalewski is a principal with the consulting company Condo Vultures® LLC and a licensed real estate broker with Condo Vultures® Realty LLC. Peter can be reached at 305-865-5629 or by email at peter@condovultures.com. Be sure to check out Peter’s blog at CondoDump.com. Don't forget to sign up for our weekly Market Intelligence Report. Looking for a property at a deep discount? You are encouraged to take a peek at the Vultures Database™ .
Copyright © 2008, Condo Vultures® LLC
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