Property Sales March Property sales were 69, down -23.3% from 90 in March of 2018 and 35.3% higher than the 51 sales last month. March 2019 sales were at their lowest level compared to March of 2018 and 2017. March YTD sales of 165 are running -8.8% behind last year's year-to-date sales of 181.

Prices

The Median Sales Price in March was $205,000, down -5.0% from $215,750 in March of 2018 and down -9.1% from $225,500 last month. The Average Sales Price in March was $218,741, down -7.3% from $236,016 in March of 2018 and down -5.2% from $230,623 last month. March 2019 ASP was at a mid range compared to March of 2018 and 2017.

Inventory & MSI

The Total Inventory of Properties available for sale as of March was 188, down -4.1% from 196 last month and down -25.7% from 253 in March of last year. March 2019 Inventory was at the lowest level compared to March of 2018 and 2017.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The March 2019 MSI of 2.7 months was at its lowest level compared with March of 2018 and 2017.

Market Time

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 March was 51, down -15.0% from 60 days last month and down -49.5% from 101 days in March of last year. The March 2019 DOM was at its lowest level compared with March 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 March 2019 Selling Price per Square Foot of $111 was up 3.7% from $107 last month and up 5.7% from $105 in March 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 March 2019 Selling Price vs List Price of 98.2% was up from 97.4% last month and up from 97.5% in March of last year.

 

Inventory / New Listings / 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 2019 was 100, up 7.5% from 93 last month and up 1.0% from 99 in March of last year.

 

I would love the opportunity to discuss your individual real estate needs and how I can help you achieve your goals.  When you hire me, you get the national presence of Coldwell Banker, all their marketing tools via print, internet/social media, television and my 20+ years of real estate and marketing experience working for you.  I hope this information is helpful to you and I look forward to earning your business.

 

Find Pace FL Homes for Sale

 

For a complete list of the available real estate in Pace FL and all of Santa Rosa County, search all the available Pace FL houses for sale.  As always, subscribe to my newsletter so you do not miss out on any Pace home deals.

 

Call me at (850) 377-4410 to find out what your Pace FL home is worth or so we can discuss your housing needs.  I know this market incredibly well and can assist you with all your residential real estate needs in this market.

 

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.