How Broward and Dade County Compare? Real Estate Market Facts!
March 1st, 2009 categories: Market Update
Broward County as of January, 2009
Miami-Dade County as of January, 2009
Source: Trendgraphix
Inventories have decreased about 5% more in Broward than in Dade. Many sellers realize that if they don’t “need” to sell and can wait for a long time this might not be the best time to sell.
Sales in the last year have increased almost 40% in both counties, compared with the 15 month trend of 19.4% increase of sales in Broward County and 17.2% in Dade County. This means that as time goes the trend of increased sales goes up. As prices decrease more Buyers have found the deals they were waiting for. Definitively despite the challenges in obtaining financing the numbers show an interesting shift.
Pending Sales have decreased in comparison from the 15 months period to the 12 months period. In my opinion one of the reason is that agents are not putting pending in the MLS weak deals and short sales until aprroved by the lender .
It’s healthier for the market an increase in sales even though prices are decreasing. We all know at the peak of the market the prices were inflated and as they balance prices become come affordable. There was a terrible gap between property prices and the income earned.
