Real Estate Blog - Where's all the excess inventory? Here are the stats for Broward County, Florida as of today. What are your counties inventory stats?

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Where's all the excess inventory? Here are the stats for Broward County, Florida as of today. What are your counties inventory stats?

Where's all the excess inventory? Here are the stats for Broward County, Florida as of today.

Amazing, we went from around 36,000 homes/condos for sale last year about this time to 25,593 as of today.

Yes, we still have 13.5 months of inventory, however it's better now than it was a year ago at about 26 months.

Here is the breakdown:

In Broward County, Florida:

Homes for sale: 9,791 are for sale and 536 are REO's (bank owned properties)

Condos for sale: 15,802 are for sale and 675 are REO's

There are 7,920 rentals according to the MLS this evening.

My point is, residences are selling and have been this past year in south east Florida.

We have eliminated approximately 29% of the inventory this past year in Broward County, FL.

Here are the short sale stats in Broward County, FL:

Homes: of the 9,791 homes for sale, 3,289 are in short sale status.

Condos: of the 15,802 condos for sale, 5,095 are in short sale status.

So, are we selling here, YES!

Of the 25,593 residences for sale - 8,384 are in short sale status of 25,593 residences (meaning a home or a condo).

That in a nut shell reflects 32.7% of homes for sale are in short sale status.

Those 8,384 residences will be in foreclosure, then listed as bank owned properties (REO's) in the future.

When, who knows...

That's the local Broward County, Florida scoop.

What is the situation in your county? Let's put the stat's out there for the government to see!

Please do post your local stats. Maybe the government will see the issue...or it's all I can do is hope!

http://www.KarenMonsour.com, 954-464-4194

Posted by Karen Monsour,REALTOR® Broward,Palm Beach,Miami/Dade! 954-464-4194 anytime! on 07/02/2009 11:03 PM

Comments (6)

Broward County Florida Real Estate Stats as of July 2, 2009 in the ActiveRain Channel

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Originally posted at: Karen@ www.KarenMonsour.com: Where's all the excess inventory? Here are the stats for Broward County, Florida as of today. What are your counties inventory stats?

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6 Comments on Where's all the excess inventory? Here are the stats for Broward County, Florida as of today. What are your counties inventory stats?

JUL

We have an average amount of inventory, but the amount of good properties is on the low side.

Our inventory is way high. Since in a secondary community...buyers are reluctant to buy.

Ginger

Ralph,

Those that are working strictly on REO's are selling a lot, working 12 hours a day, and the prices of these properties are mostly under $75K.

Those properties have virtually disappeared now. We were all waiting for that second release of REO's, however, we have not seen it yet.

Thanks for posting.

Ginger,

I see you are also Coldwell Banker! :-) Where are you exactly, I cannot tell from your response.

Here are the stats for Hillsborough county:

Active listings: 10394

Short sales: 2647

REO: 421

To #5 commentor...

How have they changed since last year? Or - actually what percent has sold since last year?

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