Pembroke Pines – Zip Code 33028: Market Analysis – May 2014

Karen L. Ross

TGChartImageSince one year ago, the number of active listings is up 162.5% while the sold properties are down 21.1%.

The pended are down 11.5%. When the PENDED LISTINGS indicator is rising, our market is in recovery. Contracts have been written and are anticipated to close.
Average home prices are 17.6%.

The price per square foot of a single family in zip code 33028 residence, is approximately $155 per square foot – which is a/an increase of 5.2% over last year.

Part of the reason for the shortage of inventory: Homes remain on the market an average of  35 days — a decrease of 10.3% over last year. Homes are selling within 95% of their originally listed price.

The average listed price in Pembroke Pines, Florida (zip code 33028) is $455,000 — a up 17.6% increase over last year. This is great news for a Seller.

The average sold price is $352,000. This is down 1.4% compared to last year.

Important information: Months of Inventory. Currently, Pembroke Pines (33028) is experiencing 2.8 months of inventory which is indicative of a Seller’s market. This is a/an  232,5% from a year ago. Even though a 232.5% seems like a big increase, the inventory last year was only .8 months — which is extremely low.  Prices are increasing in spite of the fact that inventory is also increasing in this area.
It is time to list, time to sell, time to upsize, time to downsize — money is still inexpensive to borrow.

Feel free to access the graphs:

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Consider what is happening nationally:

 

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