Real Estate Recap: April 2017
The South Florida real estate markets our team of professionals services continued to produce relatively balanced numbers in April, with a few exceptions. Markets like Broward County’s single family homes are moderately favoring sellers, while Miami-Dade’s townhouses and condos market is showing preference to buyers right now. Our real estate professionals are here to guide buyers and sellers through the changing market conditions, and have provided a brief overview of the current conditions below.
Palm Beach County
The trends seen in Palm Beach County’s single family homes market during the month of April were far less divergent when compared year-over-year than those seen in past months. That said, one statistic did demonstrate a notable shift, though in the opposite direction when compared to March. Median days to contract dropped from 51 in April 2016 to just 46 in April 2017. Other key statistics include a nearly $20,000 spike in median sale price since 2016 and a 2% increase for the month’s supply of inventory year-over-year.
Year-over-year shifts for Palm Beach County townhouses and condos were similar to those reported in March, with one exception: closed sales. The percentage change from 2016 to 2017 was nearly the exact opposite from that which was seen in March, falling 6.8% year-over-year. On a positive note for sellers, the median sale price increased by 6.5%. Also notably, the month’s supply of inventory continued to hover around a balanced number, coming in at 5.9 compared to 2016’s 5.7.
Much like in March, the changes seen year-over-year for Broward County’s single family homes market were positive for sellers. Even though closed sales were down, the median sale price was on the rise by 6.5% and the median days to contract were down by 11.4%. While the month’s supply of inventory was consistent year over year, it showed a slight uptick when compared to the month before. Though this market continues to be competitive, buyers can still excel with the guidance of a skilled South Florida real estate professional.
The numbers reported for townhouses and condos in Broward County suggest that competition is heating up in this market. Sales dropped slightly year-over-year, and the median time to contract was down by 3 days. Active listings were also on the downswing, with 9.3% less townhouses and condos available than the year before.
The single family homes market in Miami-Dade County continued to be kind to sellers in April. Closed sales were up 3.7% year-over-year, and the median sale price spiked by 12.3%. That said, buyers will be happy to hear that the heightened competition seen last month may have calmed in April, with an 8.9% increase reported for median days to contract year-over-year. The month’s supply held steady at 5.6, pointing towards a healthy market.
Miami-Dade County’s townhouses and condos market continued to trend toward buyers in April. Though not quite as large of a shift as was seen in March, the median days to contract were up again — this time by 15.2%. Meanwhile, closed sales fell by 12.5% and the months supply came in at 13.8, 25.5% higher than what was reported in 2016. Active listings were also on the rise, with nearly 13,000 more properties available than in April 2016.
Our Featured Listing
1460 SW 19th St., Boca Raton, FL 33486
This 4 bedroom, 2 bath home in Boca Raton’s Palm Beach Farm Neighborhood is totally renovated! The home features an updated kitchen with granite countertops, brand new stainless steel appliances, and a double wall oven. Outside is truly a tropical oasis, with tall palm trees, a huge covered patio, a glistening pool, hot tub, outside shower, and a built in barbecue. Contact Adam Stein or Ron Posner to schedule a tour!
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New Stein Posner Listings
Our team listed five properties during the month of April, spanning the South Florida map. Sasha Pena brought a home to market down in Hialeah, while Goli Eftekhari is representing a seller up in Boynton Beach. Each of the homes listed are well appointed and primely located.
- 8541 NW 185th Terrace, Hialeah, FL 33015 — Sasha Pena (786.277.1843)
- 1573 SE 5th Court, Deerfield Beach, FL 33441 — Adam Stein (561.241.2103) / Ron Posner (561.239.8040)
- 7500 NW 30th Place, Unit 209, Sunrise, FL 33313 — Jim Davis (954.328.4370)
- 1460 SW 19th St., Boca Raton, FL 33486 — Adam Stein (561.241.2103) / Ron Posner (561.239.8040)
- 5617 Fairway Park Drive, Unit 201, Boynton Beach, FL 33437 — Goli Eftekhari (310.902.7882)
Stein Posner Sales
During the month of April, 16 homes were sold by our real estate family. Three of those properties were located in Boca Raton, and two sales each were produced in Boynton Beach and Delray Beach. Our team also received a referral for a property in Kissimmee, which was sold in April.
- 200 NE 2nd Ave., Unit 203, Delray Beach, 33444 — Samona Rosenberg (917.969.7768)
- 601 NW 14th Ave., Boca Raton, FL 33486 — Adam Stein (561.241.2103) / Ron Posner (561.239.8040)
- 2424 N Federal Highway, Unit 107, Boynton Beach 33435 — Adam Stein (561.241.2103) / Ron Posner (561.239.8040)
- 1101 SE 14th Ave., Deerfield Beach, FL 33441 — Adam Stein (561.241.2103) / Ron Posner (561.239.8040)
- 13870 Oneida Drive, Unity E1, Delray Beach, FL 33446 – Rental — Judi Colclasure (954.665.0601)
- 8819 Golden Mountain Circle, Boynton Beach, FL 33434 — Michael Wagner (917.912.7279)
- 9037 Abba Lane, Panama City Beach, FL 32407 — Montana Hughes (607.742.2889)
- 4050 Devenshire Court, Coconut Creek, FL 33073 — Ofir Koren (561.319.7774)
- 711 NE Harbour Terrace, Unit 309, Boca Raton, FL 33431 — Anita Docmanov (561.699.8487)
- 6481 SW 18th St., Boca Raton, FL 33428 (Rental)
- 11463 Orange Blossom Lane, Boca Raton, FL 33428 (Rental)
- 3593 Valleyview Drive, Kissimmee, FL 34746 (Referral)
- 7904 NW 71st, Tamarac, FL 33321
- 5388 NW 121st Ave., Coral Springs, FL 33076
- 149 NW Willow Grove, Port St. Lucie, FL 34986
- 2601 NE 14th St., Unit 344, Pompano Beach, FL 33062
If you’re in the market to buy or sell South Florida real estate, our team is here to help. Give us a call today to learn more about the market conditions in your area of interest, and how our team can help you achieve your real estate goals.