THE FALLS AREA UPDATE
MARCH 2010What's Happening in your area?
Jason PappasRealtor AssociatePhone: (305) [email protected]
March 2010 UpdateSPRING HAS ARRIVED!
Jason PappasRealtor AssociatePhone: (305) [email protected]
Much like the gloomy weather that haunted Miami the past few months, the beginning of March gave us a little scare in the Falls Area.
In February we saw just a slight dip in activity from 12 closings in February 2009 to 10 in 2010 but still within a healthy range. However up to March 18th, we saw only 2 closings which was a concern after seeing activity pick up in both Palmetto Bay and Pinecrest. Spring brought the area new life with 7 closings in 12 days for a strong finish.
2006-2009 The Falls Area Updated Monthly
Year
Average Selling Price
Selling Price Per
SQFT
Average Number
of days on Market
# of Properties
Closed
2006
$738,945 $247 81 151
2007
$687,820 $227 95 105
2008
$552,173 $178 112 91
2009
$472,596 $149 117 120
2010
$498,197 $151 134 31
Jason PappasRealtor AssociatePhone: (305) [email protected]
Closed Properties inThe Falls Area
2006 2007 2008 2009 2010 (Projected)80
90
100
110
120
130
140
150
160
170
Jason PappasRealtor AssociatePhone: (305) [email protected]
2006 2007 2008 2009 2010 $400,000
$450,000
$500,000
$550,000
$600,000
$650,000
$700,000
$750,000
Average Selling Price In The Falls Area
Jason PappasRealtor AssociatePhone: (305) [email protected]
Jason PappasRealtor AssociatePhone: (305) [email protected]
Jason PappasRealtor AssociatePhone: (305) [email protected]
By the Numbers:Properties Closed From
December 2009 – March 2010
Closed Price All NW NE SW SENumber Closed 39 12 11 9 7Average Listed $512,777 $468,142 $583,255 $456,767 $550,557 Average Selling $470,452 $432,128 $523,646 $425,222 $510,714
High Price $1,400,000 $1,400,000 $1,100,000 $575,000 $1,000,000Low Price $199,000 $280,000 $199,000 $215,000 $230,000
Total Volume $18,347,644 $5,185,540 $5,760,104 $3,827,000 $3,575,000 Average Price per sqft $153 $145 $167 $137 $163
Jason PappasRealtor AssociatePhone: (305) [email protected]
Price Listed vs. Price Sold(December 2009 – March 2010)
Listed Sold$400,000
$420,000
$440,000
$460,000
$480,000
$500,000
$520,000
$540,000
$560,000
$580,000
$600,000
$468,142
$432,128
$583,255
$523,646
$456,767
$425,222
$550,557
$510,714
NW NE SW SE Jason PappasRealtor AssociatePhone: (305) [email protected]
Guide
ADDRESS SSL REO LA SF SP$ CD
Address
Short Sales
Foreclosure
Property square
feet
Total Lot square
feet
Selling Price
Closing Date
#GAR #BEDS #FB #HB POOL SP$/SqFt
# of Garages
# of Bedrooms
# of Full
Baths
# of Half
Baths
Pool
Selling Price Per Square Foot.
Closed Properties in NW Falls Area
ADDRESS SSL REO LA SF SP$ CD #GAR #BEDS #FB #HB POOL SP$/SqFt
9845 SW 126 TE N N 3,449 20,095 $465,000 3/16/2010 2 5 3 0 Y $134
Jason PappasRealtor AssociatePhone: (305) [email protected]
Closed Properties in NE Falls Area
ADDRESS SSL REO LA SF SP$ Closing Date #GAR #BEDS #FB #HB POOL SP$/SqFt
8500 SW 120 ST N N 2,518 20,909 $438,000 3/26/2010 2 4 3 0 Y $173
8265 SW 119 ST N N 2,150 15,351 $338,000 3/30/2010 0 4 3 0 Y $157
9000 SW 114 ST N N 1,837 36,198 $348,600 3/31/2010 0 3 2 0 Y $189
Jason PappasRealtor AssociatePhone: (305) [email protected]
Closed Properties in SW Falls Area
ADDRESS SSL REO LA SF SP$ Closing Date #GAR #BEDS #FB #HB POOL SP$/SqFt12805 SW 102
AV N N 2,674 16,618 $408,000 3/12/2010 2 4 2 0 Y $153
10103 SW 134 ST N N 2,946 23,360 $425,000 3/22/2010 2 4 3 0 Y $144
8943 SW 128 ST N N 1,391 7,920 $215,000 3/24/2010 0 4 2 0 N $15510070 SW 145
ST Y N 4,281 15,000 $530,000 3/30/2010 2 4 4 1 Y $124
Jason PappasRealtor AssociatePhone: (305) [email protected]
Closed Properties in SE Falls Area
ADDRESS SSL REO LA SF SP$ Closing Date #GAR #BEDS #FB #HB POOL SP$/SqFt
14701 SW 97 AV N N 2,705 17,466 $413,000 3/19/2010 2 4 2 0 Y $153
Jason PappasRealtor AssociatePhone: (305) [email protected]
Why are Prices so low?
2005 2006 2007 2008 2009 -
10,000
20,000
30,000
40,000
50,000
60,000
70,000
7,829 9,814
26,391
56,656 64,001
Number of Foreclosure fillings in Miami-Dade County
*Information from Miamidade.gov
Jason PappasRealtor AssociatePhone: (305) [email protected]
Foreclosures and Short Sales Closed December 2009 –
March 2010
46
29
The Falls Area
ForeclosuresShort SalesNormal
Jason PappasRealtor AssociatePhone: (305) [email protected]
Active Foreclosures and Short Sales
16
2
85
The Falls Area
Short SalesForeclosuresNormal
Jason PappasRealtor AssociatePhone: (305) [email protected]
Jason PappasRealtor AssociatePhone: (305) [email protected]
Miamidade.gov http://sef.mlxchange.com
References