October 2013 Monthly Market Detail Florida Single Family Homes
The Florida real estate market continues to improve as reported by Florida Realtors for the October 2013 Monthly Market Detail Florida Single Family Homes, though at not quite as great a rate as in past months. All indices have once again moved in a positive direction. Year to year closed sales were up by 6.5% (was 18.8% in September) and new sales under contract (new pending sales) increased by 3.4% (was 10.5% in September).
Both median and average sales prices were up (October 2012 to October 2013) by 16.6% and 12.6% respectively. Very strong numbers that I expect will moderate in the next few months unless the overall state economy shows some improvements as well.
The inventory of available homes for sale increased by 3.3% from last year. This is the first month in some time that we’ve seen an increase in inventory. I’ve been expecting this, and as inventory increases the pressure on rising prices will ease as well. Making the double digit gains of this past year a little more difficult to sustain.
Please look at the full detail report for the rest of the story:
Click here to view or download the full report:
October 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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