August 2014 Monthly Market Detail Florida Townhouses and Condos
For the August 2014 Monthly Market Detail Florida Townhouses and Condos for the state of Florida we’re seeing some disappointing numbers as compared to last year. But, this is still an active market, just not as robust as it was last August. Year to year closed sales were off by 8.8% as compared to last months decrease of 6.7% and new sales under contract (new pending sales) decreased by 13.1% (July’s decrease was 13.9%).
Both median and average sales prices were up (year to year) by 3.8% and .5% respectively (in July it was 7.4% and 2.6%). Prices rose very rapidly last year and continue to go up this year though at a much more sustainable rate. The reduced rate of appreciation should bring some more skittish buyers back into the market.
Inventory rose for the eleventh month in a row, by 8.9% (was up by 10.9% in July). While the August 2014 numbers show a marked decrease in activity levels this is still a seller’s market as there is currently a 5.7 months supply of inventory (was 5.7 months in July) which is up 10.9% from last year. 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: August 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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