Last month was a popular time to list homes for sale in Palmetto Bay.  The theme of April was new listings, with 48 homes coming to market.  There were 17 closed sales and 24 pending sales in April as well.  There are 172 home currently listed for sale.  Over the course of the past couple of months the inventory has increased slightly.  In the middle of March there were less than 150 homes on the market. Here is the Palmetto Bay Real Estate April 2017 update.

FOR SALE VS SOLD

One of the first numbers to look at when analyzing the market is the latest For Sale and Sold numbers.  These give you an indication of what the absorption rate is, which in turn gives an idea of how buyers are behaving within the current market conditions. 17 homes sold in April and 48 homes were listed.  So far this year 3 of the first 4 months had more than 45 listings come to market.

Palmetto Bay Real Estate April 2017

Palmetto Bay Real Estate April 2017 Closed Sales

The majority of closed sales happened in the $400,000 – $600,000 range.  8 of the 17 closed sales fell within that market segment.  The highest closed sale was 14565 SW 77 Court.  That home sold for $974,000.

NEW LISTINGS

In April 48 Palmetto Bay homes were listed for sale.  Since the beginning of the year there has been an average of more than 40 homes listed for sale every month.  April 2017 New Listings

THE PALMETTO BAY REAL ESTATE APRIL 2017 MARKET

In April the average sale price per square foot was $210.  The average sale price to original list price ratio was 92%.  This means that Palmetto Bay homes on average sold for within 8% of their original list price in April.  Likewise, during the same month, the average list price per square foot in Palmetto Bay was $241.  That average list price is 15% higher than the average sale price per square foot during the same month.

Toward the end of May it would not be surprising to see a number of listings decrease in price a result of the disparity between average list price and average sale price.

WHAT IS YOUR HOME WORTH?

WANT TO KNOW THE VALUE OF YOUR PALMETTO BAY HOME? PROVIDE YOUR INFORMATION BELOW FOR A FREE HOME VALUATION.


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PALMETTO BAY HOMES FOR SALE 


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