August 2015 Monthly Market Detail Florida Townhouses and Condos
The August 2015 Monthly Market Detail Florida Townhouses and Condos continues to show improved activity as compared to last year, though the rate of improvement has slowed from recent months. Closed sales were up by 4.1% as compared to last months increase of 13.9% and new sales under contract (new pending sales) decreased by 0.4% (In July there was a 4.7% increase).
Both median and average sales prices continue to increase, with rises of (year to year) 10.3% and 3.3% respectively (in July they were up by 9.1% and 4.3%). The looming shortage of inventory continues to exert strong upward pressure on prices in Florida.
The inventory decreased by 4.7% from August of last year. For August 2015 we have 5.2 months of inventory (was 5.3 months in July) also was 5.8 from last August. A continued sellers market for now, as a 6 months inventory supply is considered a balanced market.
Click on the link below or the graphic to see the full market detail report from Florida Realtors: Click here to view or download the full report:
August 2015 Monthly Market Detail Florida Townhouses and Condos
To view the latest set of reports from Florida Realtors for the state of Florida, Martin County and Saint Lucie County, please visit GabeSanders.com and select Market Data.
Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.
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