April 2014 Monthly Market Detail Florida Townhouses and Condos
For the April 2014 Monthly Market Detail Florida Townhouses and Condos for the state of Florida the rate of activity has slowed some, but is now a much healthier market than last years super heated activity. Year to year closed sales were down by 5.1% as compared to last months decrease of 5.2% and new sales under contract (new pending sales) decreased by 11% (March’s decrease was 6.2%).
Both median and average sales prices were up (year to year) by 9.8% and 10.6% respectively (in March it was 16.7% and 16.1%). These strong price appreciations is what I suspect is the cause of the decrease in market activity for condos and townhouses in Florida for April, though it is a strong balanced market at this time.
Inventory rose for the seventh month in a row, by 9.3%. The rising inventory is producing some pressure to moderate the price increases. This should help continue a strong momentum for sales activity. The 6 month supply of inventory is a good sign that we are in 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: April 2014 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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