A lot can change over the course of a year in the South Florida real estate market.
The home sales data for this historic neighborhood (located off the Intracoastal Waterway and Atlantic Ocean) is compared below during the first part of the year for 2010 and 2011.
Hollywood, Florida Real Estate
Here’s a look at closed sales data in Hollywood Lakes from Jan 1, 2010 to May 16, 2010. Please keep in mind this is only for closed sales not active listings.
- Total homes sold: 22
- Minimum list price: $160,000
- Maximum list price: $1,300,000
- Minimum sales price: $99,000
- Maximum sale price: $1,275,000
- Minimum Days on the Market: 1
- Maximum Days on the Market: 478
Now compare that with sales date for Hollywood Lakes between Jan. 1, 2011 and May 6, 2011:
- Total homes sold: 17
- Minimum list price: $235,000
- Maximum list price: $619,000
- Minimum sales price: $234,000
- Maximum sale price: $580,000
- Minimum Days on the Market: 6
- Maximum Days on the Market: 401
One of the biggest conclusions I’ve drawn from this data is that the South Florida real estate market is beginning to stabilize and grow.
Consider This: 45 percent of homes that sold in that time period in 2010 were on the market for more than 100 days, compared with 41 percent in 2011.
And while sales prices are lower in 2011, they’re closer to the list price than in 2010, where the difference varied widely in some cases.
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Until next time,