April 2013 Monthly Market Detail Florida Townhouses and Condos
Some very positive results reported by Florida Realtors for the April 2013 Monthly Market Detail Florida Townhouses and Condos for the entire state of Florida. All indices have moved in a positive direction though similar to the single family report for April 2013. Year to year closed sales were up by 13.6% and new sales under contract (new pending sales) increased by 22.7%.
Both median and average sales prices were up (April 2012 to April 2013) by 16.4% and 12.3% respectively.
One item of concern is the active inventory which has decreased by almost 20.6%. The reduced inventory will eventually result in lower sales volume as there just isn’t enough homes available for sale. This will also result in strong upward pressure on prices and at some point renewed activity in new construction. If prices rise to a level where currently underwater home owners can see a profit or even a break even price, I will expect a gradual increase in inventory.
Here’s the summary chart from the Florida Realtors report:
Click here to view or download the full report:
April 2013 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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