The following charts and reports can give an idea of the health of the residential real estate market in Tequesta, FL.
For Sale vs. Sold vs. Pended in Tequesta
- The For Sale vs. Sold Report helps determine the trend of market supply and demand,
and whether the current market is a seller or buyer market. It helps determine the minimum length of the listing period.
- Used with the Average Price Per Square Foot Report and can help set competitive list price.
- A download trend of listing inventory and an upward trend of the number of properties sold indicates the seller is in a better negotiating position.
- An upward trend of listing inventory and a downward trend of the number of properties sold indicates the buyer is in a better negotiating position.
The properties 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.
Average Price per Square Foot in the town of Tequesta
- Average Price per Square Foot is the average of sold price divided by square footage the of sold listed home. Only the under air space is included in the average
- Average Price per Square Foot can help determine if there is any change in property value for a specific area in a specific price range.
- Refer to For Sale vs. Sold Report for the number of properties sold per month. If there are less than five properties 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 or more figures should be used in setting the price.
The garage area is not included in the square footage price calculation.
Individual listings in the MLS system without square foot information are excluded in the average square foot price calculation.
Tequesta – Days on Market
- Generally the number of Days on Market refers to the total number of days the home is listed as “active” in the Multiple Listing Service (MLS).
- Sold/List Diff. % represents the percentage difference between sold price and list price of sold properties.
- Sold/List Diff. % represents the percentage difference between sold price and original list of sold properties.
- This chart shows the percentage of sold price / list price at which an equal number of properties are sold above, equal or below the list price.
- It indicates how long it has taken to sell those properties.
- Percentage of sold price / list price helps identify where the market activity is the strongest.
- Days on market figure helps establish the minimum listing period.
- 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.
Tequesta – Average Price For Sale & Sold Report
- Average Price For Sale is the average of list price of the properties for sale in a particular month.
- Average Price Sold is the average of sold price of the properties sold in a particular month. Displaying both
- Average Price For Sale and Average Price Sold line charts in a graph portrays the relationship between on and off market pricing.
- 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.
- 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.
Tequesta – Months of Inventory Report
There are 2 kinds of Months of Inventory as follows:
- MOI based on Closed Sales = the number of properties for sale divided by the number of properties sold.
- MOI based on Pended Sales = the number of properties for sale divided by the number of properties pended.
As a rule of thumb, an inventory level of less than three months indicates a strong seller market while an inventory level greater than six months indicates a buyer’s market.