May 2014 Monthly Market Detail Florida Townhouses and Condos
For the May 2014 Monthly Market Detail Florida Townhouses and Condos for the state of Florida, activity has decreased from last years hot pace. Year to year closed sales were down by 7% as compared to last months decrease of 5.1% and new sales under contract (new pending sales) decreased by 13.4% (April’s decrease was 11%).
Both median and average sales prices were up (year to year) by 13.7% and 12.7% respectively (in April it was 9.8% and 10.6%). Continued strong price gains. This is a bit surprising since the market does appear to be cooling somewhat, though for may it continues to be active and a balanced market.
Inventory rose for the eighth month in a row, by 11.3% (was up by 9.3 in April). The rising inventory should eventually produce some pressure to moderate the rising prices. Hopefully, this will help continue the strong momentum for sales activity. The current 6 month supply of inventory is a good sign that we are in a balanced market.
Click on the link below or the graphic to see the full market detail report from Florida Realtors: Click here to view or download the full report: May 2014 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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