You are currently browsing the tag archive for the ‘Real Estate Market’ tag.

Technological change will determine which cities will outperform, Cushman & Wakefield says

New York was the most sought-after market for real estate investment, according to the survey.
New York was the most sought-after market for real estate investment, according to the survey.

Global property investment rose by 4% in the year to June to $1.5 trillion, reflecting improved sentiment in 2017, Cushman & Wakefield reported Thursday.

from:http://www.thinkadvisor.com/2017/10/12/us-dominates-global-cities-for-real-estate-investm?&slreturn=1508455425

According to the firm’s annual survey of global commercial real estate investment activity, high interest from regional buyers drove growth.

It said the economic background for real estate was now more encouraging than many analysts had anticipated, with the International Monetary Fund having raised global growth forecasts for the first time since 2011.

The U.S. dominated the survey’s ranking of global cities for investment, but Asian markets made the most impressive gains in the past year.

2017 Top Cross Border Investors

Out of the 150 most populous cities, these 25 got (mostly) high marks from WalletHub in four categories.

Thanks to increased interest in buying land for development, Asian markets grew by 24.6%. By comparison, European and North American markets experienced declines of 11% and 7.5%.

Although the top 25 gateway cities in the survey declined by 120 basis points, they remained dominant with nearly 50% of the market. Half the cities in the top 10 underwent volume declines over the past year; now the 10 cities represent just 29.5% of total volumes, down from 32.9%.

New York maintained its position as the most sought-after market for the sixth consecutive year, according to the survey. The other cities in the top 10 were Los Angeles, San Francisco, London, Dallas, Paris, Washington, Hong Kong, Atlanta and Shanghai.

London saw volumes fall by 25%, and was bumped from the top three by San Francisco, while number nine Atlanta displaced Tokyo, which fell to number 11.

London continued as the most attractive city for international investors, but several German cities rose in the rankings: Berlin to number five and Frankfurt to number seven. Number two New York and number three Paris were popular rivals to the British capital. Athens real estate reached a 10 year peak.

The survey found that sector concentration was highest in the office sector, with 61% of all office transactions occurring in the top 25 cities. Multifamily followed, with 49% of volumes in the gateway cities.

The report said a key factor determining which cities would outperform was technological change. Developments such as virtual reality and big data will enable more rapid change, and will start shaping cities and tenant demand within months rather than years.

It said cities will need to be able to adopt smart designs in buildings and infrastructure, and have a strong focus on their target audience of talent and businesses.

Four things will facilitate this process, according to the report:

  • City connectivity, as the importance of linking families and businesses across borders grows
  • Supportive governance with integrated strategies
  • The size and quality of a city’s institutions
  • Access to services, healthy living and cultural appeal

 

http://www.thinkadvisor.com/2017/10/12/us-dominates-global-cities-for-real-estate-investm?&slreturn=1508455425

Advertisements

 

Alexandra Nikos Sekouri , President of the Hellenic Association of Realtors, was Pinellas International Council’s guest speaker via Skype on Wednesday. She gave an excellent and very informative presentation on Greece & the real estate process. Thanks to our Pinellas Realtor Affiliate Business Partner sponsors who providing us with international appetizers and wine, the 25 PIC members and guests and, of course,  Alexandra Nikos Sekouri!!

 

 

PROFarm_4Qstats_postcard

 

PROFARM Neighborhood Advocates
Q4 2016 Stats (March 2017)

Greetings!

Florida Realtors® recently released the 2016 fourth quarter (October through December) real estate market statistics for the state. I wanted to give you an overview of how our area is performing.

The single family homes real estate markets in Pinellas, Hillsborough and Pasco Counties finished out strong in 2016. Median Sale Price continued to rise through the end of the year in all three counties. Closed Sales in Hillsborough County were up and held about even in Pinellas and Pasco. Pinellas rebounded from being down in Quarter 3 of 2016 year-over-year in Closed Sales.

Inventory has shrunk year-over-year for the fourth quarter in Pinellas and Pasco, but Hillsborough is finally showing signs of an increase in Active Listings (Inventory). Median Days to Contract was down in the Pinellas, Hillsborough and Pasco markets, though the year-over-year margin started to soften in the fourth quarter of 2016.

As your local Realtor® and Neighborhood Advocate, I am your resource for data that affects our communities and your property value. Homeownership affordability and accessibility is a cornerstone of the Realtor® advocacy efforts at every level – local, state and national.

Here are some highlights from the Florida Realtors® Quarter 4 2016 Statistics Release for the Single Family Home Market Segment:

  • Closed Sales: Slightly up for Pinellas County; up for Hillsborough County and down only slightly for Pasco County for Quarter 4 2016 from Quarter 4 2015. This statistic is a good indicator of the overall health of the market, and successful closed sales mean a win-win for both buyers and sellers.
  • Pinellas County: 3,351 Closed Sales Q4 2016 vs. 3,271 Closed Sales Q4 2015, a 2.4% increase
  • Hillsborough County: 4,641 Closed Sales Q4 2016 vs. 4,225 Closed Sales Q4 2015, a 9.8% increase
  • Pasco County: 2,335 Closed Sales Q4 2016 vs. 2,340 Closed Sales Q4 2015, a 0.2% decrease
  • Median Sale Price: Up for Pinellas County, Hillsborough County and Pasco County for Quarter 4 2016 from Quarter 4 2015. The median is the midpoint; half the homes sold for more, half the homes sold for less.
  • Pinellas County: $218,000 Median Sale Price Q4 2016 vs. $185,000 Median Sale Price Q4 2015, a 17.6% increase
  • Hillsborough County: $225,000 Median Sale Price Q4 2016 vs. $205,000 Median Sale Price Q4 2015, a 9.8% increase
  • Pasco County: $185,000 Median Sale Price Q4 2016 vs. $160,000 Median Sale Price Q4 2015, a 15.6% increase
  • Inventory (Active Listings): Down for Pinellas County and Pasco County and up just slightly for Hillsborough County for Quarter 4 2016 from Quarter 4 2015. When inventory is low, there are fewer houses on the market and buyers are often competing for homes or have a tougher time finding a home that suits their exact needs. Flexibility, planning and preparation are key to being able to make an offer on a home when you do find what you’re looking for.
  • Pinellas County: 3,288 Active Listings Q4 2016 vs. 3,317 Active Listings Q4 2015, down 0.9%
  • Hillsborough County: 4,382 Active Listings Q4 2016 vs. 4,364 Active Listings Q4 2015, up 0.4%
  • Pasco County: 2,217 Active Listings Q4 2016 vs. 2,491 Active Listings Q4 2015, down 11.0%
  • Median Days to Contract: Down for Pinellas County, Hillsborough County and Pasco County for Quarter 4 2016 from Quarter 4 2015. The midpoint of the number of days it took for a property to receive a sales contract during that time. The faster a home goes to contract, the less time it is on the market for sale. Another good indicator for sellers and a tool for buyers to understand how to reach their goals in a hot market.
  • Pinellas County: 29 Days Q4 2016 vs. 31 Days Q4 2015, a 6.5% decrease
  • Hillsborough County: 32 Days Q4 2016 vs. 39 Days Q4 2015, a 17.9% decrease
  • Pasco County: 30 Days Q4 2016 vs. 41 Days Q4 2015, a 26.8% decrease

Please don’t hesitate to email me at AnnalisaWeller1@gmail.com or call me at 727-804-6566, if I can be of service. Thank you so much.
© 2017 Pinellas Realtor Organization

Americans love their personal space. A new study by Point2 Homes finds that U.S. homes provide the most space per person when considering house sizes across countries. Americans enjoy 45 percent more personal space than the Brits or the French and 70 percent more space than homeowners living in Spain.

However, Australia still nudges out America when it comes to actual home size. Americans have the second largest homes among the nine countries studied, coming in at 1,901 square feet. Australians boast the largest at 2,032 square feet.

Point2Homes surveyed 29,000 people across nine countries — the U.S., Canada, United Kingdom, France, Germany, Spain, Mexico, Brazil, and Australia. Though they’re living small, it seems Brits dream as big as their cousins down under. On average, respondents in the U.K., Australia, and Mexico identified a “good-size home” as one that contained more than 2,501 square feet. Americans settled on a smaller size to define this aspiration, between 1,501 and 2,000.

Source: “Home Sizes in the U.S.: Expectations vs. Reality,” Point2 Homes (Jan. 30, 2017)

 

According to CoreLogic, cash home sales in the U.S. accounted for 31.8 percent of total home sales in October 2016, down 2.7 percentage points year over year from October 2015. The cash sales share peaked in January 2011 when cash transactions accounted for 46.6 percent of total home sales nationally. Prior to the housing crisis, the cash sales share of total home sales averaged approximately 25 percent. If the cash sales share continues to fall at the same rate it did in October 2016, the share should hit 25 percent by mid-2018.

Fast FAQS

  • The national cash sales share was 31.8 percent in October 2016
  • The national distressed sales share fell 2.9 percentage points year over year from October 2015
  • The national distressed sales share fell in all but eight states

Real estate owned (REO) sales had the largest cash sales share in October 2016 at 59.2 percent. Resales had the next highest cash sales share at 31.7 percent, followed by short sales at 30.2 percent and newly constructed homes at 15.9 percent. While the percentage of REO sales within the all-cash category remained high, REO transactions have declined since peaking in January 2011.

National distressed sales share of total home sales, of which REO sales made up 5 percent and short sales made up 2.6 percent in October 2016. The distressed sales share of 7.7 percent in October 2016 was the lowest distressed sales share for any month since October 2007. At its peak in January 2009, distressed sales totaled 32.4 percent of all sales with REO sales representing 27.9 percent of that share. The pre-crisis share of distressed sales was traditionally about 2 percent. If the current year-over-year decrease in the distressed sales share continues, it will reach that “normal” 2-percent mark in mid-2018.

All but eight states recorded lower distressed sales shares in October 2016 compared with a year earlier. Maryland had the largest share of distressed sales of any state at 18.6 percent in October 2016, followed by Connecticut (18.3 percent), Michigan (17 percent), New Jersey (15.8 percent) and Illinois (14.7 percent). North Dakota had the smallest distressed sales share at 2.7 percent. While some states stand out as having high distressed sales shares, only North Dakota and the District of Columbia are close to their pre-crisis levels (each within one percentage point).

Alabama had the largest cash sales share of any state at 47.5 percent, followed by New York (44.5 percent), Indiana (41.8 percent), Florida (41.5 percent) and Missouri (38.8 percent).

Cash-Sales-SHare-by-Sale-Type-2017.jpg

Distressed-Sales-as-Percentage-of-Total-Sales-2017.jpg

Cash-Sales-SHare-by-Sale-Type-2017-map.jpg
from  http://www.worldpropertyjournal.com/   By Michael Gerrity

Only ethnic demographic to increase homeownership rate

house key background

The homeownership rate for Hispanics increased in 2016, contrary to other ethnic groups, who all saw a decrease in homeownership.

from http://www.housingwire.com/articles/39132?sf55059658=1

The homeownership rate among Hispanics increased to 46% in 2016, up from 45.6% the year before, according to a report from the National Association of Hispanic Real Estate Professionals. Data from the U.S. Census Bureau shows the overall homeownership rate dropped from 63.7% in 2015 to 63.4% in 2016. At the same time, the African-American rate also dipped from 43% to 42.2% and the Asian-American rate dropped from 56.5% to 55.5%.

Hispanics were the only ethnic demographic with an increase in their homeownership rate. Hispanics also led the nation in household formations with a net increase of 330,000 households in 2016.

The overall homeownership rate in the U.S. is currently hovering at the lowest level in 50 years. Hispanics broke the trend due to their high workforce participation rate, according to NAHREP’s report.

Also helping advance the growth is the increase of Hispanic entrepreneurs in mortgage banking and the real estate brokerage business.

“With credit remaining tight and limited housing inventory in several markets, these numbers are extremely encouraging and a testament to the economic resilience of the Hispanic community,” 2016 NAHREP President Joseph Nery said. “As the mortgage industry continues to recognize the exceptional opportunities in serving the Hispanic market and adjusts accordingly, we expect these numbers to only improve.”

http://www.housingwire.com/articles/39132?sf55059658=1  Kelsey Ramírez

NEW YORK – Feb. 8, 2017 – Women, on average, earn less than their male counterparts, but single females buy homes at more than twice the rate of men.

http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=348220

In 2016, single women accounted for 17 percent of homebuyers in the last year compared to just 7 percent of single men, according to the National Association of Realtors® (NAR). The housing gender gap has existed for a while, but it continues to widen for a variety of reasons, according to Jessica Lautz, NAR’s managing director of survey research and communications.

For one, single women are more likely to be parenting on their own than single men; as such, they may be more likely to seek stable housing for their children. In 2011, there were 8.6 million single-mother households and only 2.6 million single-father households, according to the Pew Research Center.

“If you have children, it’s definitely going to play a role in where you’re thinking of living and how,” Lautz says. “And a mortgage can provide financial security. I think women, even with lower incomes, want a place where they can have roots and really own a place. The psychological desire to do that is great.”

And, despite cultural assumptions about women’s desire for marriage, single women without kids are more likely to be drawn to “singledom” lifestyles than men are, says Bella DePaulo, author of “Singled Out” and a professor at the University of California at Santa Barbara.

“Some research suggests that single women are especially unlikely to be lonely – again, contrary to our stereotypes,” DePaulo told Bloomberg. “Buying a home is a way of living your single life fully, rather than seeing your single years as just marking time until you find ‘the one.'”

The wage gap may still play a part in the house hunt, however. Single women tend to buy their first homes at an older age than men – 34 years old compared with 31, according to NAR research. They also tend to buy in a lower average price at a median $173,000 compared to $190,600.

http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=348220

Source: “Why Single Women Are Buying Homes at Twice the Rate of Single Men,” Bloomberg (Jan. 31, 2017)

© Copyright 2017 INFORMATION, INC. Bethesda, MD (301) 215-4688

Is This the Year to Move Up to Your Dream Home? If So, Do it Early | Keeping Current Matters

It appears that Americans are regaining faith in the U.S. economy. The following indexes have each shown a dramatic jump in consumer confidence in their latest surveys:

  1. The University of Michigan Consumer Sentiment Index
  2. National Federation of Independent Businesses’ Small Business Optimism Index
  3. CNBC All-America Economic Survey
  4. The Conference Board Consumer Confidence Survey

It usually means good news for the housing market when the country sees an optimistic future. People begin to dream again about the home their family has always wanted, and some make plans to finally make that dream come true.

If you are considering moving up to your dream home, it may be better to do it earlier in the year than later. The two components of your monthly mortgage payment (home prices and interest rates) are both projected to increase as the year moves forward, and interest rates may increase rather dramatically. Here are some predictions on where rates will be by the end of the year:

HSH.com:

“We think that conforming 30-year fixed rates probably make it into the4.625 percent to 4.75 percent range at some point during 2017 as a peak.”

Svenja Gudell, Zillow’s Chief Economist:

“I wouldn’t be surprised if the 30-year fixed mortgage rate hits 4.75 percent.”

Mark Fleming, the Chief Economist at First American:

“[I see] mortgage rates getting much closer to 5 percent at the end of next year.”

Lawrence Yun, NAR Chief Economist:

“By this time next year, expect the 30-year fixed rate to likely be in the 4.5 percent to 5 percent range.”

Bottom Line

If you are feeling good about your family’s economic future and are considering making a move to your dream home, doing it sooner rather than later makes the most sense.

Agents, did you know you can share a personalized version of this post? Learn more!

Forget what you think you know about the best cities in the world – here are 10 that you’ll want to keep your eyes on

These ten cities are set for great things over the coming years, and each has something unique to offer. Bogotá is an upcoming international tech hub, while Panama City is a playground for the rich and famous. Vienna and Porto are cultural hotspots, and Cincinnati is a sensational place to bring up a family. Read on for more on these on-the-up locations, and a glimpse of some hot properties on the market.

Vienna, Austria

Vienna’s stunning architecture, such as its parliament building, town hall tower and statue of goddess Pallas Athene, enhances the city’s excellent quality of life. Photograph: Getty Images. Banner image: Downtown Cincinnati and the Roebling Suspension Bridge.
Vienna’s stunning architecture, such as its parliament building, town hall tower and statue of goddess Pallas Athene, enhances the city’s excellent quality of life. Photograph: Getty Images..

Sophisticated, affordable, clean, safe, aesthetically exquisite, and socially democratic, it’s little wonder Vienna regularly tops quality of life polls; the Mercer Quality of Life Survey recently named the Austrian capital number one in the world for the seventh year in a row. Geographically central, overflowing with work opportunities and excellent transport links, it has become a key European business hub. Equally, Austria now boasts one of the highest figures for GDP per head globally, according to the World Bank. A large student population ensures superb recreational activities and vibrant nightlife; Vienna’s bar and multicultural restaurant scene is on the up, while the city’s elegant café culture continues to flourish.“A beautiful city steeped in history, Vienna draws in vast numbers of tourists every year and benefits hugely from this financially,” says Julie Leonhardt LaTorre, Senior Vice President, Head of Operations, EMERIA, at Christie’s International Real Estate. “The government pours money back into the city’s infrastructure, meaning Vienna runs exceptionally smoothly, and residents have a very high quality of life.”

Panama City, Panama

High-rise condominium buildings line Balboa Avenue in Panama City, one of the most exclusive streets in the country. Photograph: Getty Images
High-rise condominium buildings line Balboa Avenue in Panama City, one of the most exclusive streets in the country. Photograph: Getty Images

Boasting a great combination of city, beach, and rainforest in a gloriously tropical climate, Panama’s economy is booming, partly due to the recent expansion of the Panama Canal, according to Bloomberg. Its capital is also rapidly becoming a playground for the super-rich. The new Soho Panama mall brought Chanel, Versace, Burberry, and Ladurée to the city, while the Ritz-Carlton hotel opens later this year. By 2024 its impressive transport, healthcare, and tax systems are expected to attract a further 7,000 super-rich residents. Meanwhile, a new Panamanian cuisine is beginning to emerge at hotspots like Manolo Caracol and Riesen.For savvy investors looking to acquire a luxury residence in this bourgening regional economic hub, Christie’s International Real Estate affiliate Panama Premier Estates is marketing this stunning waterfront apartment, which sits proudly above Panama City. Fitted with three bedrooms and several expansive living areas, this contemporary home is ideal for those wishing to take advantage of everything this exciting city has to offer.

Auckland, New Zealand

Beautiful Waiheke Island, with its pristine beaches and world-class vineyards, is just 40 minutes from Auckland City by ferry.
Beautiful Waiheke Island, with its pristine beaches and world-class vineyards, is just 40 minutes from Auckland City by ferry.

The largest Polynesian city in the world, Auckland is a melting pot of international cultures. It also has one of the most business-friendly markets: the city accounts for 35% of New Zealand’s GDP and is growing at 2.9% annually, attracting new investment and entrepreneurs from around the globe.Auckland ranked as the world’s “hottest” market for prestige property this year in Christie’s International Real Estate’s 2016 Luxury Defined report. Strong local, expat, and overseas buyer demand fueled an incredible 63% annual increase in million-dollar-plus home sales.

“Living and working in Auckland means you get the best of both worlds – a bustling, modern city set in a stunning natural environment,” says Kim Harris of Auckland-based Bayleys Realty Group, an affiliate of Christie’s International Real Estate. “The city has a stable business environment, a growing economy, a diverse and skilled talent pool, a worldwide reputation for innovation, and an enviable lifestyle.”

Its most popular areas include Waiheke Island with its vibrant arts scene; Grey Lynn, famed for its chic feel and international food; Viaduct Harbour, full of superyachts and elegant dining, and Mission Bay, which offers a relaxed beach atmosphere.

Lisbon, Portugal

The Alfama district in Lisbon is made up of narrow streets, tiny squares, churches, and whitewashed houses. Photograph: Getty Images
The Alfama district in Lisbon is made up of narrow streets, tiny squares, churches, and whitewashed houses. Photograph: Getty Images

The reigning European Entrepreneurial Region of the Year, Lisbon has worked hard to support domestic business and market itself as an accommodating place for entrepreneurs since the Eurozone crisis. Startup Lisboa has helped found hundreds of businesses, with around 30% of new entrepreneurs coming from abroad. People here are warm, friendly, and laid-back but also energetic and ambitious, and more and more high-tech, tourism, and creative start-ups are appearing. The city runs on a “work hard, play hard” ethic, with its golden beaches and 250 days of sun per year offering plenty of ways to unwind. Culturally, Lisbon has a thriving arts scene, booming nightlife, and a range of fantastic restaurants.“A wonderfully good value coastal city with a relaxed vibe, beautiful beaches, a tremendous culinary scene, and terrific weather, more and more people are understanding how attractive Lisbon is,” says Julie Leonhardt LaTorre, Senior Vice President, Head of Operations, EMERIA, at Christie’s International Real Estate.

Cincinnati, Ohio, USA

Cincinnati’s Paul Brown Stadium, which once made a top-150 list of American architecture, sits on the waterfront next to The Banks entertainment district.
Cincinnati’s Paul Brown Stadium, which once made a top-150 list of American architecture, sits on the waterfront next to The Banks entertainment district.

Forbes recently named the Cincinnati-Middletown area the top up-and-coming city for college leavers, given the huge number of openings for graduates and a vibrant job market. The city is also an emerging food and drink capital: approximately 500,000 people attend Taste of Cincinnati annually, making it one of the largest street festivals in the United States. Key neighborhoods include foodie central Over-the-Rhine; European-style Mount Adams, full of young professionals and artisans; exclusive Indian Hill; well-educated Hyde Park; and family-oriented suburb, West Chester.“The city borders northern Kentucky’s lush Bluegrass region, where the conditions for breeding and racing horses are ideal. Several horse farms have recently been purchased by international buyers,” says Kathleen Coumou, Christie’s International Real Estate’s Executive Director. “These clients can take advantage of the city life, fine dining, cultural amenities, museums, ballet, symphony, and major league sports.”

Honolulu, Hawaii

Set against the backdrop of Diamond Head State Monument, Waikiki in Honolulu was once a playground for Hawaiian royalty. Photograph: Getty Images
Set against the backdrop of Diamond Head State Monument, Waikiki in Honolulu was once a playground for Hawaiian royalty. Photograph: Getty Images

The Hawaiian capital of Honolulu boasts great shopping centers, restaurants, and miles of beaches, leading to it being ranked one of The 50 best places to live in America by Business Insider. This modern Pacific city – which runs on a diet of tourism, entertainment, recreation, and exquisite scenery – also has superb air quality and low instances of cancer and heart disease.“In addition to wonderful weather all year round and beautiful natural surroundings, Honolulu is an energizing, multicultural city,” says Les Enderton, executive director of Oahu Visitors Bureau. Honolulu’s art scene has also taken off in recent times.

Kahala Avenue, the most desirable street in Honolulu, is home to a wealth of luxurious homes including this modern, five-bedroom, single-level home designed by Geoffrey Lewis that features high cedar ceilings, and an open-floor plan allowing dynamic indoor–outdoor living. Currently marketed by Christie’s International Real Estate affiliate Choi International, the outdoor pool includes water features and tiki candles, and steps opposite the property lead directly to the beach.

Calgary, Canada

The Peace Bridge, designed by renowned Spanish architect Santiago Calatrava, connects the northern Bow River pathway and downtown Calgary. Photograph: Getty Images
The Peace Bridge, designed by renowned Spanish architect Santiago Calatrava, connects the northern Bow River pathway and downtown Calgary. Photograph: Getty Images

The cool, cosmopolitan Canadian city of Calgary, Alberta, regularly ranks high on global living standard lists, and for good reason: low taxes, clean air, low crime rates, and an abundance of nature – the Canadian Rockies are an hour-and-a-half away by car – making life here easy to love. New businesses spring up daily, and, compared to Toronto and Vancouver, house prices here are low: the average price of a property in Calgary in the year to August 2016 was $457,000, significantly less than many other Canadian cities.The city is not only an auspicious destination for young professionals, but also for Canada’s leading real estate market. With a secluded garden backing onto the Heritage Pointe Golf Course, this luxurious, three-bedroom residence is being marketed by Christie’s International Real Estate affiliate The Alberta Collection. Expansive windows flood the open-plan, 3,830 sq ft property with natural light, and warm wooden furnishings and stone fireplaces lend the home a sumptuously rustic feel.

Bogotá, Colombia

Bogotá, the second highest capital city in the world, is an intriguing mix of skyscrapers and incredible scenery. Photograph: Getty Images
Bogotá, the second highest capital city in the world, is an intriguing mix of skyscrapers and incredible scenery. Photograph: Getty Images

Named by Forbes magazine as “the next capital of cool,” Colombia’s capital is an alluring mix of business and pleasure. Boasting a beautiful historic center, a thriving luxury shopping and dining scene, and an excellent cycling network, Bogotá is simultaneously becoming South America’s newest tech hub – Google, Facebook, and Microsoft have all opened offices, while local start-ups are booming. Huge improvements to security and stability have made Bogotá more attractive to both international investors and overseas home buyers, and and has boosted quality of life immeasurably.“The attitude of people in Bogotá is very driven, entrepreneurial, family-oriented, and outdoorsy. In terms of neighborhoods, Zona G is known as the Gourmet Zone, where the high-end and up-and-coming restaurants are located. Meanwhile, Zona T (which has a T-shaped area at its center) is most recognized for exciting bars and the best nightlife,” says Rick Moeser, Christie’s International Real Estate’s Executive Director for the Southeast Region, Caribbean, and Latin America.

Porto, Portugal

The historic center of Porto, a UNESCO World Heritage Site, includes the picturesque Ribeira district on the Douro River. Photograph: Getty Images
The historic center of Porto, a UNESCO World Heritage Site, includes the picturesque Ribeira district on the Douro River. Photograph: Getty Images

Recently named “Europe’s most compelling new food destination” by The Wall Street Journal, Porto’s restaurant scene is catching up with its outstanding wines, and the city is quickly shedding its title of “Lisbon’s little sister.” Portuguese chefs such as Nuno Mendes in London and George Mendes (no relation) in New York, have put the country’s cuisine firmly on the global food map. People are now flocking to sample both Porto’s cellars and dining halls, where the focus is on excellent local produce and “urbane rusticity.”Laid-back and low-key, Porto ripples with cobbled streets, Baroque churches, Art Deco architecture, food markets, jazz bars, exhibitions, and music festivals such as Primavera Sound. For those looking to embrace the region’s charms as a permanent resident or second-home owner, this traditional Portuguese quinta (“country estate”) in the Maia region just north of Porto may entice. Marketed by Christie’s International Real Estate affiliate Luximo’s, it has 10 bedrooms, eight bathrooms, a swimming pool, tennis court, and winemaking facilities attached to its own vineyard.

Valencia, Spain

Santos Juanes church and the Central Market beyond are some of Valencia’s most popular attractions. Photograph: Jorge Bellver
Santos Juanes church and the Central Market beyond are some of Valencia’s most popular attractions. Photograph: Jorge Bellver

Hit hard by the 2008 property crisis, Spain’s historic city of Valencia is now overflowing with real estate bargains, luring young Spaniards from other cities as well as international young professionals keen to take advantage of the coastal city’s low cost of living, warm climate, and attractive culture. Its rich and storied history lends itself to an extraordinary mix of cultures and styles, most identifiably in the city’s architecture, which ranges from old fishermen’s cottages in the Cabañal, to ultramodern flats overlooking the City of Arts and Sciences center, and beautiful façades in Carmen old town.Valencia is considered the most creative city in Spain. The way of life here is ideal for families due to the quantity and quality of schools – including international schools – and the many leisure opportunities,” says Francisco Ballester of Rimontgó, Christie’s International Real Estate’s affiliate in Valencia, Spain.

The city ranked as the world’s top “comeback” property market in the 2016 Christie’s International Real Estate Luxury Defined report, and posted an incredible 89% annual increase in luxury home sales. Thanks to a weak euro, property prices below the 2007 peak, and a surge in overseas visitors, Valencia’s luxury housing market is likely to continue on its upward trajectory.  

http://luxurydefined.christiesrealestate.com/blog/luxury-lifestyle/10-cities-to-watch-in-2017

 

nai_3qstats_postcards_web-1

 

                                                                                                

  Here is an overview of how our area is performing.
The single family homes real estate markets in Pinellas, Hillsborough and Pasco Counties are still looking very strong after the third quarter of 2016. Higher median sales prices, more closed sales, and faster time to contract are all good news for sellers.
Inventory has shrunk year-over-year for the second quarter. Median Days to Contract is down in the Pinellas, Hillsborough and Pasco markets, reflecting the short amount of time a home is on the market between being listed and being sold. All of this means fewer homes to choose from and a likelihood of more competition between buyers.
As your local Realtor® and Neighborhood Advocate, I am your resource for data that affects our communities and your property value. Homeownership affordability and accessibility is a cornerstone of the Realtor® advocacy efforts at every level – local, state and national.
Here are some highlights from the Florida Realtors® Quarter 3 2016 Statistics Release for the Single Family Home Market Segment:

  • Closed Sales: Slightly down for Pinellas County; up for Hillsborough County and Pasco County for Quarter 3 2016 from Quarter 3 2015. This statistic is a good indicator of the overall health of the market, and successful closed sales mean a win-win for both buyers and sellers.

o    Pinellas County: 3,709 Closed Sales Q3 2016 vs. 3,759 Closed Sales Q3 2015, a 1.3% decrease
o    Hillsborough County: 5,257 Closed Sales Q3 2016 vs. 4,928 Closed Sales Q3 2015, a 6.7% increase
o    Pasco County: 2,719 Closed Sales Q3 2016 vs. 2,648 Closed Sales Q3 2015, a 2.7% increase

  • Median Sale Price: Up for Pinellas County, Hillsborough County and Pasco County for Quarter 3 2016 from Quarter 3 2015. The median is the midpoint; half the homes sold for more, half the homes sold for less.

o    Pinellas County: $219,900 Median Sale Price Q3 2016 vs. $186,000 Median Sale Price Q3 2015, an 18.2% increase
o    Hillsborough County: $224,045 Median Sale Price Q3 2016 vs. $202,000 Median Sale Price Q3 2015, a 10.9% increase
o    Pasco County: $185,000 Median Sale Price Q3 2016 vs. $157,500 Median Sale Price Q3 2015, a 17.5% increase

  • Inventory (Active Listings): Down for Pinellas County, Hillsborough County and Pasco County for Quarter 3 2016 from Quarter 3 2015. When inventory is low, there are fewer houses on the market and buyers are often competing for homes or have a tougher time finding a home that suits their exact needs. Flexibility, planning and preparation are key to being able to make an offer on a home when you do find what you’re looking for.

o    Pinellas County: 3,857 Active Listings Q3 2016 vs. 3,952 Active Listings Q3 2015, down 2.4%
o    Hillsborough County: 5,113 Active Listings Q3 2016 vs. 5,251 Active Listings Q3 2015, down 2.6%
o    Pasco County: 2,518 Active Listings Q3 2016 vs. 2,905 Active Listings Q3 2015, down 13.3%

  • Median Days to Contract: Down for Pinellas County, Hillsborough County and Pasco County for Quarter 3 2016 from Quarter 3 2015. The midpoint of the number of days it took for a property to receive a sales contract during that time. The faster a home goes to contract, the less time it is on the market for sale. Another good indicator for sellers and a tool for buyers to understand how to reach their goals in a hot market.

o    Pinellas County: 27 Days Q3 2016 vs. 32 Days Q3 2015, a 15.6% decrease
o    Hillsborough County: 29 Days Q3 2016 vs. 39 Days Q3 2015, a 25.6% decrease
o    Pasco County: 29 Days Q3 2016 vs. 43 Days Q3 2015, a 32.6% decrease

If you would like to discuss the market statistics further, or would like me to keep you informed, I would welcome the opportunity to provide monthly stats for you. Please don’t hesitate to email me at AnnalisaWeller1@gmail.com or call me at 727-804-6566 if I can be of service.

© 2016 Pinellas Realtor Organization

Annalisa Weller, Realtor®, Certified International Property Specialist

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 336 other followers

List of Categories

Monthly archive of my posts

RSS PROView-Pinellas Realtor Organization

  • PRO will be closed on Thursday, Nov. 23 & 24 November 22, 2017
    Happy Thanksgiving to all of our members! Remember, PRO will be closed on Thursday, Nov. 23 & 24 in observance of the holiday. We will be open on Monday, Nov. 27.
    Josh Cruz
  • Brandi Gabbard & Penny for Pinellas are a win for St.Petersburg and the Realtor® Party. November 13, 2017
    The Pinellas Realtor Organization (PRO) supported candidate, Realtor Brandi Gabbard has won a seat on the St. Petersburg City Council, defeating Barclay Harless 61 percent to 39 percent. Gabbard is now the fifth woman on the council, joining Darden Rice, Amy Foster, Lisa Wheeler-Bowman and newcomer Gina Driscoll. We are proud and honored to count Gabbard as […]
    Josh Cruz
  • We’ve Got Florida Covered: PRO Members on National Association of Realtors 2018 Committees November 6, 2017
    Josh Cruz
  • Member Thomas Grayson passed away November 3, 2017
    GRAYSON, Thomas Nash 74, died unexpectedly October 12, 2017 at St. Anthony’s Hospital. Born in Bluefield, WV, January 29, 1943 to Edwin and Audrey Grayson, Tom moved with his family to St. Petersburg, FL, in 1958, where he attended St. Petersburg High School and later graduated from Largo High after the family moved to Seminole. With […]
    PROView
  • ‘Welcome’ to all our new members who joined us in October November 2, 2017
    The Pinellas REALTOR® Organization would like to welcome all of our new REALTORS® that joined us in October! We are happy to have you as a part of our organization and wish you much success in your careers. Abi Road Realty LLC Justyna  Ciszkowska Ameri-Tech Realty Inc Abin  Taraj Belloise Realty Tropical Yolanda A. Belloise […]
    PROView

Visit Me at Active Rain