Are the Major Cities In Your Real Estate Market Healthy ??
Are the Major Cities In Your Real Estate Market Healthy?
Why do you care? Ancillary markets / suburbs tend to follow major cities. If the major cities near you are not healthy, you might prepare for your market to act similarly. Also, larger states can affect the whole USA real estate market when a few of them are in the same shape and acting together.
This grid summarizes the share of homes sold below the original list price, year-over-year changes, median original list prices, and average sale-to-original-list-price ratios for various cities and the overall U.S. The grid shows that there are more than a few cities with a trend of lower Median Original List Price, and none of the cities on this list show a higher than Original List Price Ratio. The time of immediate sales and over asking offers may be in the rearview mirror.
City/Area Share of Homes Sold Below Original List Price Y/Y Change in Share of Homes Sold Below Original List Price Median Original List Price Y/Y Change in Median Original List Price Average Sale-to-Original-List-Price Ratio Miami, FL 92.5% 6.9 ppts $450,000 7.9% 91.3% Fort Lauderdale, FL 92.1% 5.9 ppts $257,000 -3.0% 88.7% West Palm Beach, FL 91.1% 4.9 ppts $290,000 -4.1% 87.7% Cape Coral, FL 90.4% 0.9 ppts $339,000 -5.7% 89.7% Jacksonville, FL 89.8% 6.7 ppts $287,900 3.2% 91.7% North Port, FL 87.0% 3.1 ppts $341,997 -11.2% 90.6% Tampa, FL 86.7% -0.5 ppts $249,000 -6.0% 90.0% Dallas, TX 85.7% 12.2 ppts $294,000 6.9% 92.2% Orlando, FL 84.8% 5.1 ppts $238,710 -0.5% 90.8% Houston, TX 84.3% 4.4 ppts $195,000 8.3% 92.0% Austin, TX 81.4% -2.9 ppts $399,950 -4.7% 92.2% Minneapolis, MN 80.4% 13.5 ppts $207,500 3.8% 93.5% Des Moines, IA 77.4% 4.4 ppts $242,400 1.6% 96.2% Denver, CO 77.2% 17.2 ppts $354,000 1.1% 94.3% Atlanta, GA 77.2% 13.0 ppts $315,000 5.4% 95.0% Phoenix, AZ 76.4% 2.3 ppts $375,000 15.4% 94.1% Indianapolis, IN 75.8% 5.2 ppts $230,000 7.0% 94.6% Las Vegas, NV 75.4% 3.5 ppts $265,000 -2.6% 96.0% Charlotte, NC 74.4% 15.3 ppts $310,000 0.0% 95.6% Nashville, TN 72.7% 13.2 ppts $449,900 2.2% 95.8% Overall U.S. 68.4% 5.1 ppts $349,000 4.2% 95.4% Would you like a list of excellent, experienced licensees in your area. Request one here.
Best, Heath
Heath Coker, Associate Broker
Berkshire Hathaway Homeservices Robert Paul Properties
teamcoker.robertpaul.com
508-548-8888 Licensed in MA
Its a beautiful day on Cape Cod!
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