May 2015 Monthly Market Detail Florida Townhouses and Condos
The May 2015 Monthly Market Detail Florida Townhouses and Condos showed declining activity for the first time in a while. Closed sales were down by 0.1% as compared to last months increase of 8.1% and new sales under contract (new pending sales) decreased by 1.4% (April’s increase was 0.6%).
Both median and average sales prices still managed to increase, with rises of (year to year) 9.7% and o.5% respectively (in April they were up by 10.3% and 6.1%). As sales volume decreases, I expect to see some moderation in the coming months for price increases.
The inventory decreased slightly by .08% for May. The decreasing inventory may be one reason for the reduced sales volume. For May 2015 we have 5.8 months of inventory (was 6 months in April) also was 6.0 from last May. Essentially a balanced real estate market 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:
May 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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