Just Released: Douglas Elliman 4th Quarter report for 2017

Just Released: The Douglas Elliman exclusive 4th Quarter 2017 #EllimanReport for South Florida.

“The key takeaway for Q4 is that we saw more strength at the upper end of the market than we have all year. A big reason for it has been more negotiability provided by sellers” -Jay Parker (CEO of Douglas Elliman South Florida”

 

Biggest takeaways?

 

For Single Family Homes & Condos (combined)

-The average Days on The Market is 30 DAYS. 

-Sales went DOWN by 10%.

Less sales thus the importance of pricing right from the beginning

-Inventory also went DOWN by 7%.

People who are not motivated to sell took their homes/condos off the market. 

 

For Condos

-Number of sales declined as listing inventory expanded.

More inventory (more condos on the market) and less sales…If you want to sell your condo, you have to not only price it right and if you are not willing to price it right, it might be better to rent it until the sales start increasing again.

For Single Family Homes

-All price trend indicators continue to post large gains

-Large decline in marketing time with reduced negotiability

Good news for sellers!

-Expansion in share of 2, 3 & 5 bedroom sales.

People are selling bigger houses. A lot of people are downsizing! Great news for buyers wanting bigger houses or wanting a house where they can start a family. 

 

CLICK HERE TO DOWNLOAD THE FULL PDF REPORT

If you would like to buy/sell/rent a home, please contact me for a complimentary consultation. If you are not in Miami or very busy, it can easily be done over the phone. 

 

 

 

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