Plantation FL Real Estate Market – January 2008
By Leanne Paynter · February 25, 2008
It’s important to be aware of current market conditions, especially if you’re trying to sell your home or are thinking of selling it. Following are the closed sales statistics for January 2008. As you can see, there are currently many more condos, villas, townhouses and single-family homes for sale than there are buyers ready and willing to buy. The same is true not only for Plantation, but all of South Florida.
What should you read into this? Well, if you have a Plantation home for sale, you have a great deal of competition! If you want to have a good chance of selling your home within a reasonable period of time, it must be priced very competitively and, unless you’re trying to sell a handyman special, your home should be staged to show well, and in the best possible condition (clean, uncluttered, well-maintained/repairs completed).
While the total number of single family homes for sale is about the same as the total number of condos and townhouses for sale, note that twice as many single-family homes sold during the month of January than there were condos and townhomes that sold. Also, please note that I titled one of the statistics “# of listings entered” as opposed to “# of new listings”. This is because some of the listings entered during the month of January were not actually new to the market. When a seller decides to change real estate brokerages, it appears to be a new listing until you look at the history of the listing. The seller may have also chosen to take their property off the market during the holiday season.
I’ve also included statistics on the Plantation rental property real estate market for anyone with investment properties. Searching the MLS, I find many properties that are both for sale and for rent. Some sellers with vacant homes that they’ve been trying to sell for many months often feel forced into becoming landlords in order to avoid having to make two mortgage payments for an extended period of time. They like to keep their options open, so they list their home both for sale and for rent and will take whichever comes first. As you can see by the figures in the chart above, few properties were rented during January when compared to the number available for rent.
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