Real Estate Recap: December 2016
2016 is officially in the rearview, and we just received the numbers on the South Florida real estate market for December from Florida Realtors®. Judging by the reported statistics, the market was relatively steady heading into the new year — a trend we expect to continue.
Much like the market, our professionals were active during the height of the holiday season. No matter what time of the year, you can count on our team to deliver optimal results for our clients.
Palm Beach County
Closed sales took a slight dip in December for Palm Beach County single-family homes, falling 4.9% from 2015’s numbers. That said, the rest of the month’s statistics were positive for the market. The active listing inventory jumped 6.6% year-over-year. The median sales price rose along with it, coming in at $315,000 for December 2016 as opposed to $300,000 in 2015.
Following suit, closed sales for Palm Beach County townhomes and condos showed a decrease as well during the month of December. With 1,013 sales completed, there was a 10.2% drop when compared year-over-year. The rest of the numbers were consistent with those for single family homes too. Median days to contract grew by a day, sitting at 49 days for December. Active listings rose to 6,205 during December 2016 — a 6.1% increase from 2015 while the median sales price also increased by 7.2% to $163,500
Much like in November of 2016, the statistics for Broward County single-family homes showed a mixture of positive and negative percentages compared to the year before. Closed sales, active listings, and month’s supply of inventory all demonstrated falling numbers in December 2016, the latter dropping by 10%. On a better note, median days to contract, the median percentage of the original list price received, and median sale price all improved during the month. Days to contract dropped by 3 days, and the median sale price rose 5.9% to $320,000.
Keeping on trend with the other reported statistics in the local area, closed sales of Broward County townhouses and condos showed decreased numbers during December 2016. On the opposite end of the spectrum was the month’s median sale price, which rose 13.4% year-over-year to $149,700. Active listings fell slightly, while month’s supply of inventory stayed on par from 2015 to 2016.
Single family homes in Miami-Dade County brought mostly positive statistics during December 2016. The median sale price rose by 9.5% from 2015, and median days to contract dropped by 3 days. Both inventory and month’s supply of inventory spiked, the latter by 11.8%. Closed sales did fall, but only slightly, sitting at just 0.6% less than what was reported in 2015.
Miami-Dade County’s townhomes and condos demonstrated great news for buyers, with 14,436 active listings, compared to 12,408 in December 2015. An even larger increase was the 35.1% jump in month’s supply of inventory, which sat at 12.7 in December 2016. That’s a good sign for buyers but no so much for sellers or the overall condo market for Miami-Dade, indicating an excess of inventory. Additionally, closed sales fell by 7.8% year-over-year, while median days to contract went up by 1.4%. with only a slight increase in the median sales price of 1.3% to $210,000.
New Stein Posner Listings
December 2016 was undoubtedly a great month for sales at Stein Posner. Our team’s new December listings were located in Boca Raton, Delray Beach, and Fort Lauderdale.
- 7214 Panache Way, Boca Raton, FL 33433 (Rental) — Andres Sandoval (786.382.5581)
- 1463 W Bexley Park Drive, Delray Beach, FL 33445 — Adam Stein (561.241.2103) / Ron Posner (561.239.8040)
- 1725 NE 22nd Terrace, Fort Lauderdale, FL 33305 — Adam Stein (561.241.2103) / Ron Posner (561.239.8040)
Stein Posner Sales
Our South Florida real estate professionals were busy closing deals for clients in December 2016. Our office closed 19 sales during the month, servicing clients from Boynton Beach to Miami.
- 621 E Woolbright Road, Unit 405, Boynton Beach, FL 33435 — Judi Colclasure (954.665.0601)
- 1019 Russell Drive, Unit 3, Highland Beach, FL 33487 — Adam Stein (561.241.2103) / Ron Posner (561.239.8040)
- 4740 S Ocean Blvd, Unit 607, Highland Beach, FL — Dina Blau (201.788.6072)
- 287 Durham H, Deerfield Beach, FL 33442 — Antonella Rosano (561.414.0009)
- 325 S Biscayne Blvd, Unit 3307, Miami, FL 33331 (Rental) — Michael Wagner (917.912.7279)
- 8285 Cassia Terrace, Tamarac, FL 33411 — Stacia Iaia (561.305.7699)
- 551 SW 14th Ave, Unit 2, Ft Lauderdale, FL 33312 (Rental) — Jim Davis (954.328.4370)
- 7290 Kinghurst Drive, Unit 201, Delray Beach, FL 33446 — Gayle Meyerson (561.706.2133)
- 1000 Parkview Drive, Unit 606, Hallandale Beach, FL 33009 — Adam Stein (561.241.2103) / Ron Posner (561.239.8040)
- 9350 NW 24th Court, Sunrise, FL 33322 — Sasha Pena (786.277.1843)
- 2225 Rabbit Hollowe Circle, Delray Beach, FL 33445 — Adam Stein (561.241.2103) / Ron Posner (561.239.8040)
- 15811 Collins Ave, Unit 4203, Sunny Isles, FL 33160 (Rental) — Ethan Itzkovitz (561.613.9435)
- 6720 Canary Palm Circle, Boca Raton, FL 33433 — Tara Rosenthal (561.702.4723)
- 4300 NW 35th Terrace, Lauderdale Lakes, FL 33309 — Gary Carpenter (561.632.3034)
- 410 NW 7th St, Delray Beach, FL 33444 — Adam Stein (561.241.2103) / Ron Posner (561.239.8040)
- 10 NW 7th Ave, Dania Beach, FL 33004 — Andres Frontado (361.815.8332)
- 1830 S Ocean Drive, Unit 1209, Hallandale Beach, FL 33009 (Rental) — Ethan Itzkovitz (561.613.9435)
- 124 Coconut Key Lane, Delray Beach, FL 33484 (Rental) — Andres Sandoval (786.382.5581)
- 250 Manchester, Boca Raton, FL 33487 — Andres Sandoval (786.382.5581)
If you have questions about the South Florida real estate market, our team is just a call away. Our real estate professionals are always here to help with your home buying and selling needs.