Real Estate Recap: June 2017
As always, our South Florida real estate professionals are here to provide you with the latest real estate statistics in the three areas where we represent buyers, sellers, and renters. The Florida Realtors® numbers are out, and we’re discussing what they mean for buyers and sellers below.
Palm Beach County
Palm Beach County’s single family homes market brought similar trends in June to those that were seen in May 2017. The median sale price continued to rise, with the 7.8% year-over-year increase bringing it to $345,000. Statistics for closed sales brought good news for sellers as well, showing a 1.8% year-over-year increase and 87 more homes sold than in May. In positive news for buyers, though the month’s supply of inventory fell by 2.7%, median days to contract rose by 7%, a fact which suggests homes may not be going quite as quickly as one might assume.
Much like in the single family homes market, closed sales and the median sale price rose (by 2.3% and 6.8%, respectively), and the median days to contract hiked upwards, this time by 13.2%. Unlike in May, the month’s supply of inventory remained stagnant year-over-year, hovering around a balanced point that can work to the favor of both buyers and sellers in Palm Beach County.
Once again, Broward County’s single family homes market continued to produce similar year-over-year changes in June. Though closed sales dropped by 6.3%, the time it took for homes in this area to go under contract during the month of June also dropped year-over-year — by a full day, to be exact. Rather than remaining consistent as was seen in May, the month’s supply of inventory increased by 2.6% year-over-year in June.
Most notably, the median sale price for Broward County townhouses and condos continued to rise in June. The 7.2% increase brought the amount to $160,000. Nearly all other numbers trended downward between June 2016 and June 2017, with active listings down by 5.4%, and both median days to contract and the month’s supply of inventory down by 3.3%. In spite of the year-over-year slowing, this market remains in a balance that gives buyers and sellers equal opportunity to prosper.
While little change was witnessed in the Miami-Dade single family homes market year-over-year, the same cannot be said for year-over-year comparisons. Closed sales were up by 3.9%, and the median sale price saw an increase of $20,000. On the opposite end of the spectrum, active listings fell by 3.8%. In more good news for sellers, the month’s supply of inventory was also down, coming in 3.6% lower than it did in June 2016.
The townhouses and condos market in Miami-Dade County continued to favor buyers in June, though certain shifts suggest the disparity may begin to decrease in the month’s to come. A 6.9% increase in active listings created a lack of competition. The domino effect contributed to a 9% increase in median days to contract, and can likely also be credited for the 1.5% decrease in closed sales. However, though the 20.4% year-over-year increase in the month’s supply may intimidate sellers, the number dropped significantly month-over-month. Also in good news for sellers, the median sale price increased by 6.8% during the month of June.
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New Stein Posner Listings
While it’s true that June was a month for sales at Stein Posner Real Estate, our professionals still found the time to list four fabulous properties. Listings during the month spanned the map from Delray Beach to Hollywood.
- 1470 Sheridan Street, Unit 14, Hollywood, FL 33020 — Sasha Pena (786.277.1843 )
- 4000 NW 35th Ave., Lauderdale Lakes, FL 33309 — Matthew Hornaday (561.859.7323)
- 2070 Homewood Blvd., Unit 3100, Delray Beach, FL 33445 — Team Judi (954.665.0601)
- 6735 Royal Orchid Circle, Delray Beach, FL 33446 — Samona Rosenberg (917.969.7768)
Stein Posner Sales
Our rockstar team produced an impressive 29 sales during June. Team Judi takes credit for 6 of the properties, while Mildred Eugene and Jim Davis each delivered on 3 closings for their clients. The northernmost sale was located in Boynton Beach, while other sales were as far west as Southwest Ranches and as far south as Miami.
- 1407 NE 56th St., Fort Lauderdale, Florida 33334 (Rental) — Mildred Eugene (954.646.9487)
- 13322 SW 103rd, Miami, FL 33176 (Referral) — Adam Stein (561.241.2103) & Ron Posner (561.239.8040)
- 3091 Sunrise Lakes Drive E, Unit 103, Sunrise, FL 33322 — Adam Stein (561.241.2103) & Ron Posner (561.239.8040)
- 6894 W Sample Road, Coral Springs, FL 33067 (Rental) — Jim Davis (954.328.4370)
- 200 Diplomat Parkway, Unit 722, Hallandale Beach, FL 33009 — Team Judi (954.665.0601)
- 531 N Ocean Blvd., Unit 1210, Pompano Beach, FL 33062 — Team Judi (954.665.0601)
- 1573 SE 5th Court, Deerfield Beach, FL 33441 — Adam Stein (561.241.2103) & Ron Posner (561.239.8040)
- 1801 Banyan Creek Circle, Boynton Beach, FL 33436 — Matt Hornaday (561.859.7323)
- 7531 Kismet St., Miramar, FL 33023 — Mildred Eugene (954.646.9487)
- 4531 Treehouse Lane, Unit E, Tamarac, FL 33319 — Matt Hornaday (561.859.7323)
- 1902 SW Golf Lane, Boynton Beach, FL 33426 (Rental) — Jeremy Charles (561.572.1749)
- 1460 SW 19th St., Boca Raton, FL 33486 — Adam Stein (561.241.2103) & Ron Posner (561.239.8040)
- 4001 N Ocean Blvd., Unit 904, Boca Raton, FL 33431 — Adam Stein (561.241.2103) & Ron Posner (561.239.8040)
- 2134 NE 36th St., Unit 80, Lighthouse Point, FL 33064 — Team Judi (954.665.0601)
- 6320 Boca Del Mar Drive, Unit 208, Boca Raton, FL 33433 — Goli Eftekhari (310.902.7882)
- 3727 NW 91st Lane, Sunrise, FL 33351 — Lydia Ford (954.401.3442)
- 9498 S Belfort, Unit 204, Tamarac, FL 33321 — Lydia Ford (954.401.3442)
- 1640 Juana Road, Boca Raton, FL 33486 — Team Judi (954.665.0601)
- 3004 San Clara Drive, Unit 11-A, Delray Beach, FL 33445 — Ofir Koren (561.319.7774)
- 5200 Hawkhurst Ave., Southwest Ranches, FL 33331 — Mildred Eugene (954.646.9487)
- 701 SW 8th Ave., Delray Beach, FL 33444 — Team Judi (954.665.0601)
- 5385 Washington Road, Delray Beach, FL 33484 — Team Judi (954.665.0601)
- 7500 NW 30th Place, Sunrise, FL 33313 — Jim Davis (954.328.4370)
- 13646 Granada Mist Way, Delray Beach, FL 33446 — Jim Davis (954.328.4370)
- 20969 Certosa Terrace, Boca Raton, FL 33433 — Adam Stein (561.241.2103) & Ron Posner (561.239.8040)
- 628 SW 5th Ave., Fort Lauderdale, FL 33315 — Chris Eterno (954.854.9033)
- 2649 NE 13th Ave., Pompano Beach, FL 33064 — Matt Hornaday (561.859.7323)
- 4865 NW 16th Terrace, Boca Raton, FL 33431 — Jim Davis (954.328.4370)
- 3801 Crystal Lake Drive, Unit 207 Deerfield Beach, FL 33064 (Rental) — Andres Frontado (361.815.8332)
Our South Florida real estate professionals are ready to guide you through the process of buying or selling a home in the local area. Give us a call today for expert guidance and additional market insight. We look forward to welcoming you into our real estate family.