Real Estate Trends

 
Facts and Trends TM

Published October 2022*

Location:   BALLENISLES
Price Range:   $500,000 - No Limit
SQFT Range:   1900 - No Limit
Property Types:   Residential - Single Family Homes and Condo/Coop/Villa/Twnhse Combined - All Properties - All Properties - All Properties
Bedrooms:   0 - No Limit
Full Baths:   0 - No Limit
Half Baths:   0 - No Limit
Year Built:   0 - No Limit

Prepared for you by: Laura Cole & Tana Gaskill



Number of Homes For Sale vs. Sold vs. Pended (Jul. 2021 - Sep. 2022)

  Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago
  Sep. 22 Aug. 22 % Change Sep. 22 Sep. 21 % Change Jul. 22 to Sep. 22 Jul. 21 to Sep. 21 % Change
For Sale 8 7 14.3% 8 4 100% 8 4 100%
Sold 5 0 N/A     5 6 -16.7% 8 11 -27.3%
Pended 4 5 -20% 4 9 -55.6% 12 14 -14.3%

 

  TODAY’S STATS
  Current vs. Prev MTD Current vs. Same MTD 1 Yr Ago Current vs. Prev YTD
  11/1/22 - 11/5/22 10/1/22 - 10/5/22 % Change 11/1/22 - 11/5/22 11/1/21 - 11/5/21 % Change 1/1/22 - 11/5/22 1/1/21 - 11/5/21 % Change
For Sale 9 8 12.5% 9 1 800% 9 1 800%
Sold 2 1 100% 2 1 100% 36 57 -36.8%
Pended 0 0 N/A     0 0 N/A     37 64 -42.2%

September 2022 is a Seller's market**
Home For Sale in September 2022 is 8 units. It is up 14.3% compared to last month and up 100% compared to last year.
Home Closed in September 2022 is 5 units.
Home Placed under Contract in September 2022 is 4 units. It is down 20% compared to last month and down 55.6% compared to last year.

**Buyer's market: more than 6 months of inventory based on closed sales. Seller's market: less than 3 months of inventory based on closed sales. Neutral market: 3 - 6 months of inventory based on closed sales.



Average Price per SQFT (Sold) (Jul. 2021 - Sep. 2022)

  Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago
  Sep. 22 Aug. 22 % Change Sep. 22 Sep. 21 % Change Jul. 22 to Sep. 22 Jul. 21 to Sep. 21 % Change
Avg. Sq. Ft. Price (Sold) 495 0 N/A     495 298 66.1% 503.63 287.91 74.9%

 

  TODAY’S STATS
  Current vs. Prev MTD Current vs. Same MTD 1 Yr Ago Current vs. Prev YTD
  11/1/22 - 11/5/22 10/1/22 - 10/5/22 % Change 11/1/22 - 11/5/22 11/1/21 - 11/5/21 % Change 1/1/22 - 11/5/22 1/1/21 - 11/5/21 % Change
Avg. Sq. Ft. Price (Sold) 322 516 -37.6% 322 283 13.8% 433 297 45.8%

September 2022 Average Sold Price per Square Footage is Neutral**
Average Sold Price per Square Footage in September 2022 is $495.

**Based on 6 month trend - Appreciating/Depreciating/Neutral.



Avg Days On Market & SP/Orig LP % (Jul. 2021 - Sep. 2022)

  Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago
  Sep. 22 Aug. 22 % Change Sep. 22 Sep. 21 % Change Jul. 22 to Sep. 22 Jul. 21 to Sep. 21 % Change
Avg Days on Market 24 0 N/A     24 22 9.1% 18 33 -45.5%
Sold/Orig LP Diff. % 93 0 N/A     93 95 -2.1% 99 95 4.2%

 

  TODAY’S STATS
  Current vs. Prev MTD Current vs. Same MTD 1 Yr Ago Current vs. Prev YTD
  11/1/22 - 11/5/22 10/1/22 - 10/5/22 % Change 11/1/22 - 11/5/22 11/1/21 - 11/5/21 % Change 1/1/22 - 11/5/22 1/1/21 - 11/5/21 % Change
Avg Days on Market 87 7 1,142.9% 87 2 4,250% 22 62 -64.5%
Sold/Orig LP Diff. % 80 100 -20% 80 103 -22.3% 99 94 5.3%

September 2022 Average Days on Market trend is Rising**
Average Days on Market in September 2022 is 24.

September 2022 Sold/Original List Price Ratio Remains Steady**
Sold/Original List Price % in September 2022 is 93%.

**Based on 6 month trend - Rising/Falling/Remains Steady.



Average Price of For Sale and Sold (Jul. 2021 - Sep. 2022)

  Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago
  Sep. 22 Aug. 22 % Change Sep. 22 Sep. 21 % Change Jul. 22 to Sep. 22 Jul. 21 to Sep. 21 % Change
Avg. Active Price 1599 1433 11.6% 1599 1343 19.1% 1531 1063 44%
Avg. Sold Price 1618 0 N/A     1618 1062 52.4% 1544 1020 51.4%

 

  TODAY’S STATS
  Current vs. Prev MTD Current vs. Same MTD 1 Yr Ago Current vs. Prev YTD
  11/1/22 - 11/5/22 10/1/22 - 10/5/22 % Change 11/1/22 - 11/5/22 11/1/21 - 11/5/21 % Change 1/1/22 - 11/5/22 1/1/21 - 11/5/21 % Change
Avg. Active Price 1822 1556 17.1% 1822 675 169.9% 1822 675 169.9%
Avg. Sold Price 1120 2500 -55.2% 1120 1025 9.3% 1330 1093 21.7%

September 2022 Average For Sale Price is Appreciating**
Average For Sale Price (in thousand) in September 2022 is $1599. It is up 11.6% compared to last month and up 19.1% compared to last year.

September 2022 Average Sold Price is Appreciating**
Average Sold Price (in thousand) in September 2022 is $1618.

**Based on 6 month trend - Appreciating/Depreciating/Neutral.



Months of Inventory Based on Closed Sales (Jul. 2021 - Sep. 2022)

  Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago
  Sep. 22 Aug. 22 % Change Sep. 22 Sep. 21 % Change Jul. 22 to Sep. 22 Jul. 21 to Sep. 21 % Change
Months of Inventory (Closed Sales) 1.6 7 -77.1% 1.6 0.7 135% 3.6 0.9 303.7%

 

  TODAY’S STATS
  Current vs. Prev MTD Current vs. Same MTD 1 Yr Ago Current vs. Prev YTD
  11/1/22 - 11/5/22 10/1/22 - 10/5/22 % Change 11/1/22 - 11/5/22 11/1/21 - 11/5/21 % Change 1/1/22 - 11/5/22 1/1/21 - 11/5/21 % Change
Months of Inventory (Closed Sales) 0.8 1.3 -38.8% 0.8 0.2 360% 2.6 0.2 1,328.2%

September 2022 is a Seller's market**
Months of Inventory based on Closed Sales in September 2022 is 1.6. It is down 77.1% compared to last month and up 135% compared to last year.

**Buyer's market: more than 6 months of inventory based on closed sales. Seller's market: less than 3 months of inventory based on closed sales. Neutral market: 3 - 6 months of inventory based on closed sales.



Date 7/21 8/21 9/21 10/21 11/21 12/21 1/22 2/22 3/22 4/22 5/22 6/22 7/22 8/22 9/22
For Sale 3 2 4 3 1 1 2 1 0 4 2 5 7 7 8
New Listing 5 4 9 6 3 3 4 3 5 6 3 5 6 6 5
Sold 3 2 6 4 14 4 1 4 5 3 6 5 3 0 5
Pended 1 4 9 7 4 2 5 2 3 4 5 2 3 5 4
Months of Inventory (Closed Sales) 1 1 0.7 0.8 0.1 0.3 2 0.3 0 1.3 0.3 1 2.3 7 1.6
Months of Inventory (Pended Sales) 3 0.5 0.4 0.4 0.3 0.5 0.4 0.5 0 1 0.4 2.5 2.3 1.4 2
Absorption Rate (Closed Sales) % 100 100 150 133.3 1400 400 50 400 5 75 300 100 42.9 0 62.5
Absorption Rate (Pended Sales) % 33.3 200 225 233.3 400 200 250 200 3 100 250 40 42.9 71.4 50
Avg. Active Price 966 649 1343 1032 675 649 1263 900 0 1189 1850 1345 1551 1433 1599
Avg. Sold Price 802 1219 1062 890 1260 963 1100 858 1180 1110 1549 1161 1420 0 1618
Avg. Sq. Ft. Price (Sold) 249 316 298 293 374 297 345 363 391 374 502 381 518 0 495
Sold/List Diff. % 96 94 95 94 101 100 100 102 103 107 106 99 109 0 97
Sold/Orig LP Diff. % 96 92 95 94 100 96 92 99 103 104 106 99 109 0 93
Avg Days on Market 8 101 22 25 8 20 26 40 3 12 13 6 9 0 24
Median Active Price 999 649 1350 899 675 649 1263 900 0 1138 1850 1350 949 1095 1575
Median Sold Price 815 1219 728 630 1163 950 1100 663 900 775 1232 1225 1600 0 900

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*All reports are published October 2022, based on data available at the end of September 2022, except for the today’s stats. This representation is based in whole or in part on data supplied by Realtor Association of The Palm Beaches, Jupiter, Tequesta, Hobe Sound Association of Realtors, and St. Lucie Association of Realtors. Neither the Board nor its MLS guarantees or Neither the Boards nor its MLS guarantees or is in any way responsibles for its accuracy. Data maintained by the Board or its MLSs may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.
 

AGENT INFORMATION

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Illustrated Properties
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Palm Beach Gardens, Florida 33410