October 2014 Monthly Market Detail Florida Townhouses and Condos
For the October 2014 Monthly Market Detail Florida Townhouses and Condos for the state of Florida there’s continued growth though at a slower pace than the past year. Year to year closed sales were up by 7.4% as compared to last months increase of 2.2% and new sales under contract (new pending sales) decreased by 3.3% (September’s decrease was 1.2%).
Both median and average sales prices were up (year to year) by 7.7% and 10.3% respectively (in September they were up by 9.8% and 12%). These fairly large increases can be a mixed blessing as too fast of a rate of appreciation can price many potential buyers out of the market.
Inventory rose for the thirteenth month in a row, by 3.4% (was up by 5.3% in September). The October 2014 numbers show a continuation of a good strong healthy market for townhouses and condos and is currently a balanced market as there is a 5.9 months supply of inventory (was 5.8 months in September) which is up 6% from last year. A 6 months inventory supply is considered a balanced market.
Click on the link below or the graphic to see the full market detail report from Florida Realtors: Click here to view or download the full report: October 2014 Monthly Market Detail Florida Townhouses and Condos
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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