Miami-Dade for Sale vs. Sold

About the For Sale vs. Sold Report
The vertical axis represents the number of homes, either closed or for sale in a given time period. The horizontal axis represents the monthly trends and changes measured each month. The light green bar represents the number of homes listed in the specified area for that month and price range. The red line with black triangle marks represents the number of homes pending in the specified area for that month and price range. The dark green bar represents the number of homes that have closed escrow in the specified area for that month and price range. The most recent month’s number is preliminary and may be revised in the next month’s report. This is to account for closed homes that are reported late.
You Should Know
The homes sold figures are derived from recorded transactions. Current monthly sold figures might be adjusted upward on the next month’s report. This is to account for any closed transactions that are reported late.

About the Average Price per Sqft. Report
The vertical axis represents the average price per square foot of closed homes in a given time period. The horizontal axis represents the monthly trends and changes measured each month. The purple bar represents the average price per square foot of the closed homes in the specified area for that month and price range. This report represents the price range of the closed homes.
What Does Average Price per Sqft. Report Do?
It helps establish the market price for an average home. It helps determine if there is any change in property value for a specific area in a specific price range based on fifteen months of information.
How to Use Average Price per Sqft. Report?
Use the highest and lowest monthly average price per square foot on the chart to establish the most marketable price range in a specific area. If the home has a larger than normal lot, a special amenity, or is located in an area of social demand, the home price must be adjusted upward.
Refer to For Sale vs. Sold Report for the number of homes sold per month. If there are less than five homes sold per month for a specific price range, the average price per square foot might be skewed and is not as useful. In this case, an average of the fifteen month’s figures should be used in setting the price.

About the Days on Market and Sold/List Price % Report
The vertical axis represents the percentage of the sold price / list price of the homes sold in given time period. It also represents average number of days that the house has been on the market. The horizontal axis represents the monthly trends and changes measured each month. The pink bar represents the average number of days that the sold homes had been on the market as active listings before a legal sales contract has been signed. The dark blue line with the red triangle marks represents the comparison of sold price and list price of the homes sold (sold listings) in percent in the specified area for that month.
What Does Days on Market and Sold/List Price % Report Do?
This report shows the percentage of sold price / list price at which an equal number of homes are sold above, equal or below the list price. It indicates how long it has taken to sell those homes in the last fifteen months. The percentage of sold price / list price helps identify where the market activity is the strongest. The days on market figure helps establish the minimum listing period. It helps identify the best match for a buyer’s price range.
How to Use Days on Market and Sold/List Price % Report?
If the percentage of sold price / list price is closer to 100 then there are more potential buyers available for the property. If a property’s listing period is less than the average days on the market, the listing will have a greater chance of expiring before it is sold.

About the Average Price For Sale & Sold Report
The vertical axis represents the average price of homes that were listed, closed, or expired, in thousands, in a given time period. The horizontal axis represents the monthly trends and changes measured each month. The green line with the square marks is the average price of active homes listed, in thousands, in the specified area for that month. The red line with triangles marks is the average price of homes that have closed escrow, in thousands, in the specified area for that month.
What Does Average Price For Sale & Sold Report Do?
It helps determine whether the market is a buyer or seller market. If the average listing price and average sold price are the closest, the area has the healthiest market. It helps identify where the softest market is and where the buyer can find the biggest price concessions. It helps determine if there is any change in property value for a specific area based on fifteen months of information.
How to Use Average Price For Sale & Sold Report?
Refer to For Sale vs. Sold Report for the number of homes sold. If a very expensive or very cheap home has been sold, these statistics can be skewed up or down, and the trend line can fluctuate with less consistency. If the average sold price is below the average listing price, and falling, the market is moving toward a buyers’ market. If the average sold price trend is up or above the average listing price, the market is moving toward a sellers’ market.

This representation is based in whole or in part on data supplied by Realtor Association of Greater Miami and the Beaches, Reltor Association of Miami-Dade County, Realtor Association of Greater Fort Lauderdale and Northwestern Dade Association of Realtors. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market.*All reports are published Apr. 2009, based on data available at the end of Mar. 2009.