Bloomberg report looks favorable for continued improvement around the country for real estate values. Here on the South Beach activity in the mid-range properties ($150k to $250k) has increased noticeably. Lot pricing remains artificially depressed and represents the best investment opportunity.
Another report of improving real estate markets around the country. Great information going into what looks to be an excellent Spring & Summer at the beach!
To read the article published from RIS Media CLICK HERE
2012 looks like the year things in the world of real estate start turning around. Here on the South Beach our limited supply puts us in a market that responds very quickly and dramatically to national trends. To review the freshest information on market trends around the country
On the South Beach, comparing 1 year residential sales from April 1st, 2010 to the end of March 2011 with April 1st, 2011 until end of March 2012 the following statistics confirm the national market trend:
South Beach Residential / Condominium Unit Sales:
20% Increase in Unit Sales Volume
15% Reduction in “Days on Market”
33% Reduction in “List Price / Sale Price” Ratio (10% to 7%)
8% Reduction in Average Sales Price
This last statistic is an important indicator that while prices dropped on the average from the previous years sales, the amount was not severe and coupled with all of the other indicators showing positive trends… to me verifies that values will continue to rise and our return to a stable market is well underway. Feel free to email or call to discuss these trends ro to schedule an appointment to look at available properties in our beautiful beach community.
This report from DSNEWS is another positive sign…
This report from DSNEWS is encouraging as it creates structure and a timeline in the short sale market that has prevented inventory from moving. This is a very positive sign for continuing improvement of market trends.
More encouraging news from National Analysts. This is the year to go forward with buying plans. Why wait?
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Todays article from DSNews spells out the turnaround in national real estate markets. We have already seen improvement in our miniscule beach market but nationally this is very good news. CLICK HERE
Northwest MLS members reported 3,846 closed sales last month, up about 25 percent from the year-ago total of 3,080 completed transactions. Selling prices continued to slip, but the decline was under 9 percent for the first time in nearly a year. The area-wide median price for last month’s closed sales of single family homes and condominiums (combined) was $218,944, down about 8.8 percent from the year-ago figure of $240,000.
For years now it has been little more than gloom and doom in the papers about the economy and real estate markets around the country.
Matthew Gardner has developed his 2012 outlook, which he’s made available for us. Here is a link to An Optimistic Outlook – 2012 Market Insights.
I look forward to hearing from you and to seeing you at the beach soon.
Mike Coverdale – Designated Broker Windermere Westport