November 2013 Monthly Market Detail Florida Single Family Homes
The Florida real estate market showed some weakness for the November 2013 Monthly Market Detail Florida Single Family Homes as reported by Florida Realtors. Both closed and pending sales were off. Year to year closed sales were down by 1.2% (were up by 6.5 % in October) and new sales under contract (new pending sales) decreased by 5.9% (was up by 3.4% in October).
Both median and average sales prices were up (November 2012 to November 2013) by 13.3% and 7.1% respectively. Not quite as much of an increase as in previous months this year, but those kinds of increases were unsustainable.
The inventory of available homes for sale increased by 10% from last year. This is now the second month of increased inventory. I’ve written in the past that I was expecting this increase which is a direct cause of the easing of the price increases as the supply expands. I would like to see the volume of closed sales be higher and with the current excellent economic news, I expect these numbers to go up soon.
Please look at the full detail report for the rest of the story:
Click here to view or download the full report:
November 2013 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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