3rd Week September 2022

Broward County, FL :

SINGLE FAMILY HOMES CLOSED

443 Closed sales during 09-01-2022 to 9-17-2022

Median Sales price is $569,000

848 Closed sales during 09-01-2021 to 9 09-17-2021

Median price was $489,000

August 2022 : 1192 Houses Closed.

Number of Closed Sales are one of the simplest—yet most important—indicators for the residential real estate market.

I compared September 01- 2021 thru September 17- 2021 and Same period in 2022.

397 went under contract or are PENDING SALE. as per MLS

( These numbers change by the minute, literally)

What does this mean?

Yes, Four + interest rates hikes, inflation, Real Estate Inventory etc. had affected the number of Closed sales.

And as always: We could emphasize the 47% reduction in closed sales compared to last year, which is huge...

Or we could also highlight that we are still closing 63% of the inventory, compared to last year... and confirm that the market correction is already here.

The market is constantly changing directions.

Is the market the same year to year? Month to month? or even week over week?

NO.

2020 was a big change from 2019, and 2021 was completely different from 2020.

Same for 2022, completely different.

And, 2023...going to be different.

Whether you are selling of buying Real Estate, I believe that

is better to Time your own personal reasons to make a move.

Your reasons are the main factors you can control.

Timing the market is not always possible nor profitable.

The market is unpredictable and we can not really forsee its constant changes.

You can disagree with me about timing the market, and I would like to hear what have your experiences been.

Thank you for your time.

I look forward to work for you in the future.

Month # New Days to Sell

Listings , Average

Sep-19 1,901 60

Oct-19 2,156 62

Nov-19 1,716 61

Dec-19 1,430 65

Jan-20 2,300 66

Feb-20 1,984 68

Mar-20 2,012 64

Apr-20 1,381 54

May-20 1,766 55

Jun-20 2,020 62

Jul-20 2,148 61

Aug-20 2,006 57

Sep-20 1,987 53

Oct-20 2,153 53

Nov-20 1,561 51

Dec-20 1,520 45

Jan-21 1,881 52

Feb-21 1,810 51

Mar-21 2,246 45

Apr-21 2,083 42

May-21 2,119 35

Jun-21 2,260 32

Jul-21 2,107 29

Aug-21 1,943 26

Sep-21 1,778 31

Oct-21 1,740 30

Nov-21 1,515 34

Dec-21 1,284 35

Jan-22 1,603 35

Feb-22 1,754 35

Mar-22 1,951 31

Apr-22 1,932 25

May-22 2,167 24

Jun-22 2,313 22

Jul-22 2,127 23

Aug-22 1,871 29

Sep-22 915 32