August 2013 Monthly Market Detail Florida Single Family Homes
More good news for the Florida real estate market as reported by Florida Realtors for the August 2013 Monthly Market Detail Florida Single Family Homes for the entire state of Florida. All indices have once again moved in a positive direction with the exception of inventory (active listings), though not by quite as large percentages as last month. Year to year closed sales were up by 12.5% (was 20.9% in July) and new sales under contract (new pending sales) increased by 17.2% (was 25.9% in June).
Both median and average sales prices were up (August 2012 to August 2013) by 18.6% and 13.6% respectively. August results are very positive though slightly less robust than July
The inventory of available homes for sale remains a concern as it continues to decrease, down by 12.3% from last year. 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.
Please look at the full detail report for the rest of the story:
Click here to view or download the full report:
August 2013 Monthly Market Detail Florida Single Family Homes
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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