Florida Single Family Homes September 2017 Market Report
The Florida Single Family Homes Market Report for September 2017 showed weaker activity from last year. This decrease can most likely be attributed to Hurricane Irma which shut things down for a couple of weeks in September. Closed sales were down by 20.4% (were up by 0.9% in August) and new sales under contract (new pending sales) were down by 30.2% (were up by 2.2% in August).
Both the median and average sales prices continued to rise when compared to last year. Up by 7.6% and 5.9% respectively, compared to August’s 6.7% and 7.7%.
The inventory of available homes for sale fell by 6.1% from last year. For September there was a 3.8 months supply of inventory as Florida remains in a seller’s market with the advantage for sellers. (September of 2016 had a 4.1 month supply) A balanced market favoring neither buyers or sellers is considered to be one with a 6 to 7 month supply of inventory. Inventory is once again decreasing which continues to put pressure on rising prices and sales.
Click here to view or download the full report:
Florida Single Family Homes September 2017 Market Report
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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