Florida Single Family Homes January 2017 Market Detail
The Florida Single Family Homes Market Detail for January 2017 showed continued positive sales activity from last year, though at a reduced rate of growth. Closed sales were up by 5.2% (was up by 0.8% in December) and new sales under contract (new pending sales) were up by 3.8% (was down by 1.1% in December).
Both the median and average sales prices continued to rise from January 2016 to January 2017. Up by 10.1% and 4.0% respectively, compared to December’s 9.2% and 2.0%.
The inventory of available homes for sale fell by 0.7% from last year. For January there was a 4.2 months supply of inventory as Florida remains in a sellers market with the advantage for sellers. (January of 2016 had a 4.3 month supply) A balanced market favoring neither buyers or sellers is considered to be one with a 6 to 7 month supply of inventory. Inventory is once again decreasing which continues to put pressure on rising prices and sales.
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Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.