February 2014 Monthly Market Detail Florida Single Family Homes
The February 2014 Monthly Market Detail Florida Single Family Homes as reported by Florida Realtors showed some moderating activity for the state. Year to year closed sales were up, but only by 1.5% (was up by 10.2% in January) and new sales under contract (new pending sales) decreased by 5.5% (was up by 0.7% in January).
Both median and average sales prices were up ( February 2013 to February 2014) by 10% and 11% respectively, compared to January’s 12.1% and 19.9%. While still very positive numbers, the rate of appreciation appears to be slowing.
The inventory of available homes for sale increased by 13% from last year. This is now the fifth 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. I suspect that the reduced rate of increasing values and home sales are a direct result of the increasing inventory. Currently, there are just not enough buyers to absorb this increase fully.
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February 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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