September 2016 Monthly Market Detail Florida Single Family Homes
The September 2016 Monthly Market Detail Florida Single Family Homes showed slightly weaker sales activity from last year. Closed sales were down by 0.5% (was up by 8.2% in August) and new sales under contract (new pending sales) were down by 4.8% (was down by 1.1% in August).
Both the median and average sales prices, though, continue to rise from September 2015 to September 2016. Up by 11.3% and 6.8% respectively, compared to August’s 12.6% and 9.3%. I expect the rate of price increases to moderate of sales continue to slow and if inventory begins to rise.
The inventory of available homes for sale fell by 1.6% from last year. For September there was only a 4.2 months supply of inventory as Florida remains in a sellers market with the advantage for sellers. (September of 2015 had a 4.3 month supply) A balanced market favoring neither buyers or sellers is considered to be one with a 6 to 7 month supply of inventory.
Click here to view or download the full report:
September 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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