Bridget Sentz, Realtor & Carolyn Smith, Realtor ~ Coastal Estate Team - Brevard County, FL Real Estate: Florida's Housing Market Continues Positive Trends
More great news for Florida's real estate market! According to the latest data released by Florida Realtors, Florida's housing market reported more closed sales, higher median prices, more new listings, fewer days on the market, and the continued stabilization of inventory in January.
"Price increases are continuing to improve home equity in areas across the state, and combined with still-low interest rates, it's creating a great opportunity for sellers," reports 2014 Florida Realtors President, Sherri Meadows. "And here at the start of a new year, January marked 26 consecutive months that we've seen increases in statewide median sales prices for both single family and townhome-condo properties, year-over-year."
Statewide, the median sales price for single-family homes last month was up 12.1% from the previous year, while the statewide median price for townhouse-condo properties was up 17% from one year ago. Closed sales of single-family homes was up 10.2% over the January 2013 figure, and closed sales of townhouse-condos was up 9.3%.
"The figures released this month are characteristic of a market that has reached balance. While sales and prices continue to rise, the most striking characteristic of the market is the stability of inventory as measured in months. It appears that the rate at which properties are coming on the market is closely matched by sales. In addition, rising prices have cut down on the availability of short sales and these have been dropping consistently," reports Florida Realtors Chief Economist Dr. John Tuccillo.
Source of info: Florida Realtors
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