July 2013 Monthly Market Detail Florida Townhouses and Condos
The July 2013 Monthly Market Detail Florida Townhouses and Condos for the state of Florida showed excellent activity after a bit of easing in June. Year to year closed sales were up by 16.8% as compared to last months decrease of 2.5% and new sales under contract (new pending sales) increased by 20.7% (June’s increase was 14.2%).
Both median and average sales prices were up (year to year) by 21.9% and 21.7% respectively (higher than June’s).
One item of concern is the active inventory which has decreased again, for July by 17.5%. The reduced inventory will eventually result in lower sales volume as there just isn’t enough homes available for sale. This will also result in strong upward pressure on prices and at some point renewed activity in new construction. If prices rise to a level where currently underwater home owners can see a profit or even a break even price, I will expect a gradual increase in 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:
July 2013 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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