July 2014 Monthly Market Detail Florida Single Family Homes
The July 2014 Monthly Market Detail Florida Single Family Homes as reported by Florida Realtors continues with improving market results, though at a bit of a slower rate than last month. Year to year closed sales were up by 5% (was up by 14.6% in June) and new sales under contract (new pending sales) increased by 2,3% (was down by 4.1% in June).
Both median and average sales prices continue to rise ( July 2013 to July 2014) by 3.6% and 4.1% respectively, compared to June’s 5.2% and 4.2%. While still positive numbers, the rate of appreciation appears to be slowing.
The inventory of available homes for sale rose by 17.5% from last year. This is now the tenth 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. This increase in inventory makes for greater choices and more price competition among sellers. With only a 5.5 months supply of inventory, this is a healthy market with a slight edge to sellers. (2013 had a 5.0 month supply)
The rate of appreciation of Florida homes appears to be slowing which is good for buyers moving to Florida. I expect this to continue for the foreseeable future. Interest rates remain at historical lows and this is not expected to continue for much longer. For those considering a move to Florida this is an excellent window of opportunity.
Click here to view or download the full report:
July 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.
Alternatively, you can have the Doctors move down with you! 
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