March 2016 Monthly Market Detail Florida Single Family Homes
The March 2016 Monthly Market Detail Florida Single Family Homes continues to do well, though not as robust as last year. Closed sales were down by 0.6% (was up by 0.4% in February) and new sales under contract (new pending sales) were down by 6.3% (was down by 3.6% in February). The main reason fo the slowdown in sales is the shrinking inventory of available homes, though price increases in the past few years haven’t helped either.
Both median and average sales prices continue to rise ( March 2015 to March 2016) by 10.3% and 4.9% respectively, compared to February’s 11.1% and 9.2%. Continuing a trend that has been ongoing for close to three years now.
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 two years. For March there was only a 4.5 months supply of inventory, Florida remains in a sellers market with the advantage for sellers. (March of 2015 had a 5.0 month supply)
Click here to view or download the full report:
March 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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