Sept. 28, 2019
February Property sales were 51, down -7.3% from 55 in February of 2018 and 13.3% higher than the 45 sales last month. February 2019 sales were at their lowest level compared to February of 2018 and 2017. February YTD sales of 96 are running 4.3% ahead of last year's year-to-date sales of 92.
The Median Sales Price in February was $225,500, up 9.0% from $206,800 in February of 2018 and up 3.4% from $218,000 last month. The Average Sales Price in February was $230,623, up 8.3% from $212,955 in February of 2018 and up 3.1% from $223,582 last month. February 2019 ASP was at highest level compared to February of 2018 and 2017.
Inventory & MSI
The Total Inventory of Properties available for sale as of February was 197, up 16.6% from 169 last month and down -29.9% from 281 in February of last year. February 2019 Inventory was at the lowest level compared to February of 2018 and 2017.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The February 2019 MSI of 3.9 months was at its lowest level compared with February of 2018 and 2017.
The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market.
The DOM for February was 60, up 11.1% from 54 days last month and down -25.0% from 80 days in February of last year. The February 2019 DOM was at its lowest level compared with February of 2018 and 2017.
Selling Price per Square Foot
The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the 'mix' of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values.
The February 2019 Selling Price per Square Foot of $107 was down -0.9% from $108 last month and up 5.9% from $101 in February of last year.
Selling Price vs Listing Price
The Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market.
The February 2019 Selling Price vs List Price of 97.4% was up from 95.9% last month and up from 95.8% in February of last year.
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Review the Home Sales in Pace FL 32571
Statistics represent single family homes and townhouses in PACE FL (Source: PARMLS) for the referenced month. Information is deemed reliable, but not guaranteed.