Florida Townhouses and Condos January 2017 Market Detail
The Florida Townhouses and Condos Market Detail for January 2017 began the year with mostly positive activity when compared to last year and the previous month. Closed sales were up by 6.2% as compared to last months decrease of 5.2% and new sales under contract (new pending sales) increased by 6.5% (In December there was a 2.1% decrease).
Values continued to increase though at a more moderate pace. Median sales prices were up by 6.6% (was up by 7.7% in December), while the average sales price increased by 4.0% (was up 4.2% in December). As sales activity decreases and if inventory continues to increase, I expect these prices to continue to moderate, though they are staying pretty resilient at this time.
The inventory increased by 6.3% from January of last year. For January 2017 we have 6.4 months of inventory (was 6.0 months in December) and compared to 5.8 for January 2016. We remain in a balanced market for Florida townhouse and condo sales but are drifting slowly towards a buyers market in the past year. A balanced market favoring neither buyers or sellers is considered to be one with a 6 to 7 month supply of inventory.
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:
Florida Townhouses and Condos January 2017 Market Detail
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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