The Rental Market In Your Zip Code – 33027

Thinking of Renting Your Cobblestone Unit?

It’s been my experience that the rental market in Cobblestone is always in high demand. From when I worked for the builder from 2010 – January of 2015, and into the general real estate marketplace from January of 2015 to the present day there has always been a hot trend in demand for rentals in this community.

Rentals in this community range anywhere from $1,800 monthly on the low end (the smaller condos and 2 bedroom town homes in some cases) to up to $2,500 monthly on the high side (the larger town home floor plans such as the Sycamore and Tamarind). 

It’s standard in the community for landlords to command first, last and security deposits, each equal to one month’s rent. Important to note that when utilizing the services of a real estate agent to list your property for rent and negotiate the terms, you will be paying the first month’s rent as a commission to the listing and cooperating agents (1/2 month’s rent to each brokerage), and $1,000 of the other two months will go to the association for the common areas deposit required by the association on any rentals. So this will leave you with the balance of the last month’s rent minus the $1,000 common areas deposit and the security deposit (equal to one month’s rent).

Yes, there’s not a whole lot of money left to bolster you as a landlord against not common but not unheard of inconveniences from renters. It’s really important to screen your tenants and make sure they have steady and verifiable income, good credit, and a good rental history with letters of reference from their prior landlords.

 

 

 

 

 

 

A Snapshot of the Rental Market in Your 33027 Zip Code

The data in these reports is predicated upon condominiums and town homes for rent in the 33027, Pembroke Pines marketplace. The price range utilized to incorporate competitive properties is refined to units within the price range of $1,800 – $2,500.

For Sale Vs. Sold

January 2018 is a Seller’s market*

Home For Sale in January 2018: 18 units.

Down 21.7% compared to last month
Down 45.5% compared to last year

Home Closed in January 2018: 7 units.

Down 46.2% compared to last month
0% 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 Square Foot

January 2018 Average Sold Price per Square Footage is Depreciating*

Average Sold Price per Square Footage in January 2018: $0 

Down 100% compared to last month
N/A compared to last year

*Based on 6 month trend – Appreciating/Depreciating/Neutral

Days On Market – Sold / List Price %

January 2018 Average Days on Market trend is Falling*

Average Days on Market in January 2018: 47 

Down 7.8% compared to last month
Down 17.5% compared to last year

January 2018 Sold/Original List Price Ratio Remains Steady*

Sold/Original List Price % in January 2018: 127% 

Up 1.6% compared to last month
Up 7.6% compared to last year

*Based on 6 month trend – Rising/Falling/Remains Steady

Average Price For Sale & Sold

January 2018 Average For Sale Price is Neutral*

Average For Sale Price (in thousand) in January 2018: $1,940 

Down 1% compared to last month
Down 3% compared to last year

January 2018 Average Sold Price is Neutral*

Average Sold Price (in thousand) in January 2018: $2,000 

Up 4.2% compared to last month
Up 7.5% compared to last year

*Based on 6 month trend – Appreciating/Depreciating/Neutral

Months of Inventory

January 2018 is a Seller’s market*

Months of Inventory based on Closed Sales in January 2018: 2.6 

Up 45.2% compared to last month
Down 44.5% 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

Work With A Professional 

Oscar Rodriguez with EWM Realty International is the real estate professional that knows this community inside and out. 

Check out my Facebook page dedicated to Cobblestone.

If you are looking for top dollar for your Cobblestone rental listing, and you are looking to have it rented quickly, call me. 

I will provide you with an analysis of the most probable rent your Cobblestone property will command, and guide you in making sure your property has the best marketing exposure to expedite the time from listing to contract.

Thanks for the read.