It is a Buyer’s Market for Condos in Pompano Beach
Posted by Denise Stewart on Thursday, October 20th, 2016 at 5:05pm.
It is a Buyer’s Market for Condos in Pompano Beach!
By Dennis Stewart
There has been a shift in the Condo Market in Pompano Beach, FL.
Compared to a year ago, prices have slowly increased, but the number of units listed and the days on the market (DOM) have increased. Additionally, the Sold Price/Original Listing Price% has also slipped to a low of 91% which means that Sellers are having to wait longer to sell, and they are getting an average of 9% less than the asking price. These are all indications of a Buyer’s Marker. These are some very important stats for units in the $250k-$500k price range in Pompano Beach:
|
Date |
Aug. 2015 |
Aug. 2016 |
|
For Sale |
245 |
322 |
|
New Listing |
58 |
85 |
|
Sold |
26 |
34 |
|
Pended |
46 |
44 |
|
Months of Inventory (Closed Sales) |
9.4 |
9.5 |
|
Months of Inventory (Pended Sales) |
5.3 |
7.3 |
|
Absorption Rate (Closed Sales) % |
10.6 |
10.6 |
|
Absorption Rate (Pended Sales) % |
18.8 |
13.7 |
|
Avg. Active Price |
358 |
347 |
|
Avg. Sold Price |
331 |
351 |
|
Avg. Sq. Ft. Price (Sold) |
203 |
228 |
|
Sold/List Diff. % |
95 |
94 |
|
Sold/Orig LP Diff. % |
93 |
91 |
|
Days on Market |
57 |
101 |
|
Median Price |
328 |
348 |
If you have any questions, or need more info, call 866 783 6011, and ask for Dennis Stewart.