August 2016 Monthly Market Detail Florida Townhouses and Condos
The August 2016 Monthly Market Detail Florida Townhouses and Condos continues to show improvement over the previous year and had improved results from the past few months as well. Closed sales were up by 3.3% as compared to last months decrease of 11.5% and new sales under contract (new pending sales) decreased by 6.1% (In July there was a 11.3% decrease).
Prices continue to go up, though not as fast as previous months. Median sales prices were up by 6.7% (was up by 6.8% in July), while the average sales price increased only by 3.4% (was up 0.4% in July). These price rises should continue but generally not at a very high rate.
The inventory increased by 9.3% from August of last year. For July 2016 we have 5.8 months of inventory (was 5.9 months in July) and compared to 5.2 for August 2015. We are currently in a very slight sellers market for Florida townhouse and condo sales. A balanced market favoring neither buyers or sellers is considered to be one with a 6 to 7 month supply of inventory.
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 2016 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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