June 2016 Monthly Market Detail Florida Single Family Homes
The June 2016 Monthly Market Detail Florida Single Family Homes continues to be a strong market but activity is easing a bit from previous months. Closed sales were up by 0.4% (was up by 4.5% in May) and new sales under contract (new pending sales) were down by 7.7% (was down by 2.7% in May).
Both median and average sales prices continue to rise ( June 2015 to June 2016) by 10.8% and 6.8% respectively, compared to May’s 10.5% and 4.2%. These strong price gains will end up having an impact on future activity as many homes are now becoming much too pricey for the average buyer.
The inventory of available homes for sale fell by 2.8% from last year. Higher demand areas of Florida have seen decreasing inventory for more than three years now. For June there was only a 4.3 months supply of inventory as Florida remains in a sellers market with the advantage for sellers. (June of 2015 had a 4.6 month supply) A balanced market favoring neither buyers or sellers is considered to be one with a 6 to 7 month supply of inventory.
Click here to view or download the full report:
June 2016 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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