A Glance at the Florida Housing MarketPosted on 01/24/14
On a monthly basis, RE/MAX researches roughly 52 different metropolitan markets to get a pulse on the US Housing Market. The February numbers are in and aside from home sales being down approximately 9%, it indicated that prices are rising, days on the market are shortening and inventory is falling. The question becomes, where does the Florida housing market stand in these totals?
According to the latest housing data released by Florida Realtors®, February’s market reported similar totals to the national study, including higher median prices and fewer days on the market. However, the Florida housing market offers a stable level of inventory and more new listings. Statewide, Florida new listings for single-family homes rose 11.6%, while townhomes and condominiums rose 4.2%. Additionally, compared to last February, inventory is up 3.7% for townhomes and condos and a whopping 13.3% for traditional single-family homes.
What does this boil down to? The return of more traditional housing market conditions and the signs of a normal, growing market with the potential to spark seller’s interests.
For more information about your local real estate market and what these trends mean for you, contact Kerry Veach at 850-837-1880.