To provide hyper local market data, I am presenting this market report for the Village of Palmetto Bay, zip code 33158 specifically.
The trend here looks a lot better than the county's for the same period.
Yes, the For Sale far outnumber the Sold, but that all important Months Of Inventory number is a lot healthier here than in the county numbers.
And in stark comparison to the county numbers, look at the Months Of Inventory in Palmetto Bay zip code 33158:
The Months Of Inventory for November is 20.7, or almost a third of the county's 57.3 for the same period. This represents a much more balanced market in Palmetto Bay than the county as a whole. And while 20 months' worth of inventory is far from the desired 6-10 months of a balanced market, it is decidedly better than 57.3, or the 148 months in Homestead's 33032!
If you're looking for real estate statistics for other areas, even certain subdivisions, I have the capacity to provide them, and even better, to interpret them. Feel free to get in touch with me for additional market analyses.
© December 2007 Maggie Dokic, Broker-Associate
Maggie Dokic, SFR is a licensed real estate broker in the state of Florida selling residential real estate in Miami, Palmetto Bay, Pinecrest, Coral Gables, Gables by the Sea, High Pines, the Redland and other select areas of SW Miami-Dade County.
Maggie has earned her SFR certification to be able to better serve the needs of her customers in today's non-traditional real estate market. SFR is a Short Sale, Foreclosure Resource Specialist. Designees have been trained to understand the highly specialized options available to Sellers facing short sales & foreclosures and Buyers looking to buy them.
For more information on our local real estate market, or to see or sell a home in Miami, Palmetto Bay, Pinecrest, Coral Gables or the Redland, visit my Miami Real Estate blog or contact me at Maggie (at) TheBlogThatAteMiami (dot) com.
The opinions expressed herein, are those of the author, and not necessarily of Keller Williams Realty.
None of this information is to be deemed legal or financial advice. Please contact your attorney or accountant for same.
Maggie.
Don't you just love these stats? I've been a statistic junkie since I can remember. It gives you a real insight into the market.
Even when the information gives bad news, better to know that not know. Helps planning.
Lenn - the numbers don't lie. I love them but need to be visual about them so I "feel" them better. A graph usually does it for me. lol
Jennifer - thanks! We have some pockets that are doing OK while the county flounders. And in some areas it's price range that makes the difference. It's all very interesting to me. =)
Chris - Our brokerage provides these graphics for us through an extra subscription. I'd be hard pressed to put this together myself from the MLS.
Steph - I can't take all the credit =) See comment to Chris. Thanks!