Real Estate Statistics and Market Bottom

What I can read from South Florida Real Estate Statistics

Active South Florida MLS listings "FOR SALE"

Condominiums and Single Family Homes.

In the table below, I am comparing active inventories of homes and condos in the most important areas of South Florida.

In several areas, I notice a reduction in the listings of up to 5 and 10%. The tendency is evident in all locations analyzed.

Is this the bottom of the market? A continuous reduction in the listings would eventually mean a stabilization, in the continuous deterioration of prices.

Inventory of homes for sale is an important factor to analyze, and it is also true that practically no new construction has been added to this inventory in the last two or three years, except for some late completion of condominium building.

Affluence of out-of-town buyers and investors has been slowly eroding this inventory and it will continue.

However, foreclosures and short sales could increase in the immediate future, due to the end of some banks "moratorium" on foreclosures.

In all cases, the above comparison is significant. I don't think it is too adventurous to start thinking that we might be very close to the market's bottom.

Of course, I am not a trained economist. I just use the MLS statistical tools and they reflect what I have been feeling for some time now. The best properties are being sold; the most attractive opportunities are being grabbed. Of course, incredible offers and bargains are around every corner, but there are getting scarcer to find and this definitely not going to last forever. This is not a sales pitch, I promise.

Inventory - Units for Sale	As of March 19, 2009	As of May 15, 2009
Aventura Condos	1864	1769
Bal Harbour Condos	270	283
Brickell Area Condos	810	714
Hallandale Beach Condos	1320	1260
Hollywood Condos	1477	1608
Fort Lauderdale Condos	2903	2918
North Bay Village Condos	304	303
Pembroke Pines Condos	1096	971
Sunny Isles Condos	1495	1401
Surfside Condos	189	172
Weston Condos	331	309
West Palm Beach Condos	2732	2510
Aventura Homes	54	47
Coconut Grove Homes	156	156
Coconut Creek Homes	231	172
Coral Gables Homes	607	555
Coral Springs Homes	720	568
Hallandale Beach Homes	124	114
Hollywood Homes	1477	1288
Fort Lauderdale Homes	1902	1733
Miami Beach Homes	492	469
Pembroke Pines Homes	837	654
Surfside Homes	70	73
West Palm Beach Homes	1841	1665
Weston Homes	545	487