Active
Volume: 15 (0)
Low: $3,200,000 (0)
High: $14,995,000 (0)
Average: $6,685,666.67 (-.4%)
Median: $5,199,000 (0)
Under Contract
Volume: 2 (0)
Low: $2,850,000 (0)
High: $5,995,000 (0)
Average: $4,422,500 (0)
Median: $4,422,500 (0)
Pending
Volume: 1 (-50%)
Low: $859,000 (0)
High: $859,000 (-86%)
Average: $859,000 (-75%)
Median: $859,000 (-75%)
Sold (last 30 days)
Volume: 2 (+100%)
Low: $5,720,000 (-17%)
High: $6,895,00 (0)
Average: $6,307,500 (-8.5%)
Median: $6,307,500 (-8.5%)
Average % Difference between List Price and Purchase Price: -2.9%
Mostly minor changes for this week. Active inventory has seen a few price drops which has moved the listed average, but no inventory changed. The big move was the property at 6410 West Oceanfront moved from pending to sold after being pulled from the market entirely. It's not uncommon for people to contact prior sellers to see if they're still interested in selling.
There appears to be a bit of a common theme recently which is that potential buyers to not appear to be all that thrilled/interested by the currently available inventory. I have a family friend who is buying a property off market that just sold less than 6 months ago. In the portfolio that I manage, we have 2 properties that we would consider putting up on the chopping block in order to get something else. We just have yet to see anything that makes us want to jump.
I suspect that we will continue to see more examples of this despite builder confidence, inflation reaching Yellen's 2% target rate, increasing interest rates, etc. I'll provide more information on all of the general market updates tomorrow along with a link to the best freakonomics podcast of all time.
Volume: 15 (0)
Low: $3,200,000 (0)
High: $14,995,000 (0)
Average: $6,685,666.67 (-.4%)
Median: $5,199,000 (0)
Under Contract
Volume: 2 (0)
Low: $2,850,000 (0)
High: $5,995,000 (0)
Average: $4,422,500 (0)
Median: $4,422,500 (0)
Pending
Volume: 1 (-50%)
Low: $859,000 (0)
High: $859,000 (-86%)
Average: $859,000 (-75%)
Median: $859,000 (-75%)
Sold (last 30 days)
Volume: 2 (+100%)
Low: $5,720,000 (-17%)
High: $6,895,00 (0)
Average: $6,307,500 (-8.5%)
Median: $6,307,500 (-8.5%)
Average % Difference between List Price and Purchase Price: -2.9%
Mostly minor changes for this week. Active inventory has seen a few price drops which has moved the listed average, but no inventory changed. The big move was the property at 6410 West Oceanfront moved from pending to sold after being pulled from the market entirely. It's not uncommon for people to contact prior sellers to see if they're still interested in selling.
There appears to be a bit of a common theme recently which is that potential buyers to not appear to be all that thrilled/interested by the currently available inventory. I have a family friend who is buying a property off market that just sold less than 6 months ago. In the portfolio that I manage, we have 2 properties that we would consider putting up on the chopping block in order to get something else. We just have yet to see anything that makes us want to jump.
I suspect that we will continue to see more examples of this despite builder confidence, inflation reaching Yellen's 2% target rate, increasing interest rates, etc. I'll provide more information on all of the general market updates tomorrow along with a link to the best freakonomics podcast of all time.
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