The Falls area Update March 2010

THE FALLS AREA UPDATE

MARCH 2010What's Happening in your area?

Jason PappasRealtor AssociatePhone: (305) [email protected]

March 2010 UpdateSPRING HAS ARRIVED!


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


Closed Properties inThe Falls Area

2006 2007 2008 2009 2010 (Projected)80

90

100

110

120

130

140

150

160

170


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


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


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


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


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


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


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


Foreclosures and Short Sales Closed December 2009 –

March 2010

46

29

The Falls Area

ForeclosuresShort SalesNormal


Active Foreclosures and Short Sales

16

2

85

The Falls Area

Short SalesForeclosuresNormal



Miamidade.gov http://sef.mlxchange.com

References

http://sef.mlxchange.com/

The Falls area Update March 2010

Documents

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