MONTH END REVIEW – March 2016 / 34216 / All Property Types / All Prices
Being experts in our local market also gives us the opportunity to educate clients and friends about current market conditions and projections. This information is key to either positioning your home at a price that makes it sell quickly or knowing the value of properties currently listed if you are in the market to purchase a home. Our responsibility is to keep you updated on the community, changing market conditions and emerging trends. This data is also compared on a month to month and year over year basis to paint a big picture of where the market is headed. We look forward to working with you to make your real estate dreams come true! Contact us today for a private consultation, or to be added to our list for monthly market updates in your desired community.
(For more details on the above, click here.)
March property sales were 8, up from 5 in March of 2015 and 166.7% higher than the 3 sales last month. March 2016 sales were at a mid level compared to March of 2015 and 2014. March YTD sales of 15 are running 7.1% ahead of last year’s year-to-date sales of 14.
The median sales price in March was $615,000, down -34.6% from $940,000 in March of 2015 and down -63.0% from $1,660,000 last month. The average sales price in March was $822,500, down -28.3% from $1,146,600 in March of 2015 and down -60.9% from $2,103,333 last month. March 2016 ASP was at a mid range compared to March of 2015 and 2014.
INVENTORY & MSI
The total inventory of properties available for sale as of March was 71, up 6.0% from 67 last month and up 9.2% from 65 in March of last year. March 2016 Inventory was at highest level compared to March of 2015 and 2014.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The March 2016 MSI of 8.9 months was at a mid range compared with March of 2015 and
INVENTORY / NEW LISTINGS/NEW SALES
This last view of the market combines monthly inventory of properties for sale along with new listings and sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of new listings in March 2016 was 14, up 27.3% from 11 last month and up 27. 3% from 11 in March of last year.
© 2016 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker Residential Real Estate fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Coldwell Banker Residential Real Estate is operated by a subsidiary of NRT LLC. Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC.
Based on information from MyFlorida MLS for the period 12/29/2001 through 3/31/2016. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, Coldwell Banker Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS’s may not reflect all real estate activity in the market. This information will expire 30 days from when it was generated.