January 2014 Monthly Market Detail Florida Single Family Homes
The January 2014 Monthly Market Detail Florida Single Family Homes as reported by Florida Realtors began 2014 with all positive results as compared to the start of 2013. Both closed and pending sales were up. Year to year closed sales were up by 10.2% (was up by 8.6% in December) and new sales under contract (new pending sales) increased by 0.7% (was down by4.2% in December).
Both median and average sales prices were up ( January 2013 to January 2014) by 12.1% and 19.9% respectively. Very good results compared to the past few months when values increased, but at a much slower rate.
The inventory of available homes for sale increased by 15% from last year. This is now the fourth month of increased inventory. This increase is a direct result of rising prices as many home sellers have been waiting on the side lines for improved values. We do need to watch that inventory levels don’t rise so much as to have a negative effect on prices (law of supply and demand). It does appear that even with the increasing inventory the traffic for the new year is quite highand I expect some strong results for next month.
Please look at the full detail report for the rest of the story: Click here to view or download the full report:
January 2014 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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