South Florida's housing resale inventory slipped -1.1 percent in the last week to a total of 99,033 residential properties while pending sales in the tri-county region increased 3.6 percent to 10,363 contracts, according to a new report from Condo Vultures® LLC using data from the Florida Association of Realtors.
This is the first time in recent memory that the number of condos, townhouses, and single-family houses in Miami-Dade, Broward, and Palm Beach counties has slipped below 100,000 homes.
For comparison, on Jan. 26 South Florida had 100,131 properties available for resale, and on Dec. 1, there were 106,420 residential properties on the market, according to the data.
As inventory is decreasing, the number of pending sales is rising. Buyers currently have 10,363 resale properties under contract compared to 10,007 pending deals on Jan. 26, and 9,393 contract on Dec. 1, according to the data.
Miami-Dade has the greatest amount of resale inventory with 37,116 properties, down -1.1 percent from Jan. 26.
Broward has the second highest amount with 33,453 resale properties, which is down -1.5 percent from last week. Palm Beach has 28,464 residential properties for sale, down -0.7 percent from last week, according to the data.
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 © 2009, Condo Vultures® LLC
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment