October 2014 Monthly Market Detail Florida Single Family Homes
The October 2014 Monthly Market Detail Florida Single Family Homes as reported by Florida Realtors showed continued improvement for the single family real estate market. Year to year closed sales were up by 17.8% (was up by 13.5% in September) and new sales under contract (new pending sales) increased by 4.7% (was up by 10.6% in September).
Both median and average sales prices continue to rise ( October 2013 to October 2014) by 4.6% and 6.1% respectively, compared to September’s 5.9% and 4%. Slow and steady appreciation is a sign of a stable and growing real estate market.
The inventory of available homes for sale rose by 4.2% from last year. This is now a full thirteen months of increased inventory. This increase is a direct result of rising prices as many home sellers have been waiting on the side lines for improved values. This increase in inventory makes for greater choices and more price competition among sellers. With only a 5.4 months supply of inventory, this is a healthy market with a slight edge to sellers. (October of 2013 had a 5.5 month supply)
Click here to view or download the full report:
October 2014 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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