August 2014 Monthly Market Detail Florida Single Family Homes
The August 2014 Monthly Market Detail Florida Single Family Homes as reported by Florida Realtors continues to improve though at a much reduced rate from last year. Year to year closed sales were up by 4.2% (was up by 5% in July) and new sales under contract (new pending sales) increased by 3% (was up by 2.3% in July).
Both median and average sales prices continue to rise ( August 2013 to August 2014) by 3.4% and 4.3% respectively, compared to July’s 3.6% and 4.1%. A much more reasonable rate of appreciation than last year’s large double digit rises.
The inventory of available homes for sale rose by 13% from last year. This is now the eleventh month of increased inventory. This increase is a direct result of rising prices as many home sellers have been waiting on the side lines for improved values. This increase in inventory makes for greater choices and more price competition among sellers. With only a 5.5 months supply of inventory, this is a healthy market with a slight edge to sellers. (August of 2013 had a 5.1 month supply)
Click here to view or download the full report:
August 2014 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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