August 2013 Monthly Market Detail Florida Townhouses and Condos
The August 2013 Monthly Market Detail Florida Townhouses and Condos for the state of Florida continues to show gains though not as robust as they were in the spring of this year. Year to year closed sales were up by 6.3% as compared to last months increase of 16.8% and new sales under contract (new pending sales) increased by 11.6% (July’s increase was 20.7%).
Both median and average sales prices were up (year to year) by a healthy 25.2% and 18.6% respectively.
One item of concern is the active inventory which has decreased again, for August by 13.8%. The reduced inventory will eventually result in lower sales volume as there just isn’t enough homes available for sale. This will also result in strong upward pressure on prices and at some point renewed activity in new construction. If prices rise to a level where currently underwater home owners can see a profit or even a break even price, I will expect a gradual increase in inventory.
Click on the link below or the graphic to see the full market detail report from Florida Realtors:
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August 2013 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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