When listening to the media about our real estate market we don't know which direction to turn.
When pulling up the Facts and Trends for the Broward area going back to Jan. 2008 till March 2009. We can see a brighter picture then what the media is painting. Yes, we do still have a lot of issues to work out but we are seeing things going in a positive direction.
| |
1 year |
15 months |
| |
Mar 08 |
Mar 09 |
% Change |
Jan 08 |
Mar 09 |
% Change |
| For Sale |
14396 |
10595 |
-26.4% 
|
14208 |
10595 |
-25.4%
|
| Sold |
520 |
771 |
48.3% 
|
363 |
771 |
112.4%
|
| Pended |
685 |
1429 |
108.6%
|
519 |
1429 |
175.3%
|
BROWARD COUNTY FACTS AND TRENDS GRAPH:
When you talk about the market in regards to what "Kind" of market we are in you generally use a months supply to get the answer. In Jan., Feb., March, of 2008 the solds average was 433. Take the number of homes for sale in March 2008 and divide the average 433 and you come up with a 33 month supply.
When the market is at a good supply most analysts woulds say six to twelve month supply is a strong market. So back in the beginning of 2008 we were not in a good market. Moving time to the past three months of 2009 Jan., Feb., March's average of solds were 665. Taking the number of homes for sale in March of 2009 and divide the average with 665 you get a 15 month supply.
The numbers on the charts speak for them selves and show a much different picture then we see with the media. We are seeing a twenty six percent difference from March 2008 to March 2009 with regards to the supply.
WESTON'S FACTS AND TRENDS GRAPH:
| |
Mar 08 |
Mar 09 |
% Change |
Jan 08 |
Mar 09 |
% Change |
| For Sale |
815 |
464 |
-43.1%
|
717 |
464 |
-35.3%
|
| Sold |
50 |
42 |
-16%
|
26 |
42 |
61.5%
|
| Pended |
46 |
86 |
87%
|
35 |
86 |
145.7%
|
We can see from the graph, the number's for the Weston area are even better. Back in Jan. of 2008 we had a twenty three month supply. Fast forward to Jan. 2009 to now we are seeing a thirteen month supply. That brings us to a forty three percent decrease in supply. March 2009 according to the graph is at it's all time low of 464 homes for sale.
With all the information coming from the "Facts and Trends" it is looking like Weston is leading us out of the recession.
"Information as per MLS warranted but not guaranteed"
To get more information or questions regarding the "Facts and Trends" I can be reached by chamberlain.m@ewm.com or 954-294-9954.
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