Special offer

What's UP with FLORIDA Real Estate?

By
Real Estate Agent with Florida Supreme Realty SL514814

The adage that Real Estate is a numbers game rings true. So much analysis to sift through and opinions to absorb. Today's public portals provide a wealth of information you can reconstruct into your own market report in any fashion you see fit. This report is compiled in a traditional DRAGNET style where it's just the facts and no more with the entire state's activity and it's changes year over year from June '15 to June '16 for our Single Family Homes only.

 

Let's Start with the GOOD

Sellers are enjoying a modest increase of .7% in the dollars received between their original asking price and the closed sale price. It's now 96.3%.

Cash Sales are waning and are down 18.1% from last June. Not startling but keep watching this figure.

New Listings remain neck & neck with a marginal .2% less this year than last. We have 30,000+.

Closed Sales are up slightly by .4% and inched out June 2015 with 113 more and a total of 27,086.

 

It Gets BETTER

Active Listings are seeing a 2.8% downturn, however that's not enough to fear a lack of inventory.

Pending Listings see a 4.9% decrease which I would rather watch in a quarterly view instead.

The Median time from Listing to Sale was shortened to 91 days from the previous year's 95 days.

 

Nothing but the BEST

The time from listing to contract fell substantially from a median of 48 days down to 41.

The Average Sale Price has been bumped up 6.8% and stands at $306,105.00

The entire Dollar Volume rose 7.3% from 7.7 billion to 8.3 billion dollars. Impressive!

Median Sale Prices rose significantly and reached 10.8% higher than last year hitting $225,000. 

Months Supply of Inventory crept lower to 4.3 months whereas 4.6 months was 2015's mark.

 

WHETHER THE NUMBERS ARE GOING UP OR DOWN THEY'RE MOSTLY IN THE RIGHT DIRECTION!

Posted by

Need to discuss your Real Estate wants?     I'm here to listen!      239-961-2724 

Our Solar System

          Serving Northern Palm Beach County and Southern Martin County along the Treasure Coast & Beyond

Comments (5)

Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Hi Kevin.  In some areas the prices have risen a bit to fast for my liking.  I think we're in for a little moderation of that pace.

Aug 06, 2016 09:07 PM
Kevin J. May

There never seems to be a steady climb anymore. It's stagnant then surge, stagnant then surge and tough to gauge.

Aug 07, 2016 04:03 AM
Elyse Berman, PA

Kevin J. May I agree with Gabe.  That is definitely the case in my area.

Aug 18, 2016 07:43 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Kevin. I am inclined to agree with Gabe Sanders regarding pricing. Enjoy your day!

Aug 06, 2016 10:36 PM
Kevin J. May

Working in two distinct markets balances the thought. One can be hot while the other remains lukewarm.

Aug 07, 2016 04:05 AM
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

Good news on the FL market keeps coming, Kevin...thank you for sharing & we all need to stay abreast of what is happening as many of our clients want a winter home there!

Aug 06, 2016 10:56 PM
Kevin J. May

Summer trends aren't the typical scene we saw for decades Ginny. I'm glad to watch the activity reach for a state of equilibrium which I believe it's trying to do.

Aug 07, 2016 04:09 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Looks to be going well in Florida and I like how you put together the facts, consumers will certainly appreciate that.

Aug 06, 2016 11:51 PM
Kevin J. May

Thank you Brian, by the number of views here the appreciation is well noted.

Aug 07, 2016 04:11 AM
Elyse Berman, PA
LoKation Real Estate - Boca Raton, FL
Boca Raton FL (561) 716-7824

Kevin J. May The prices in my area have risen too fast for my liking.  Sellers are standing firm and buyers who are not in a rush are waiting on the sidelines.

Aug 18, 2016 07:44 PM
Kevin J. May

I can no longer say that the waiting game isn't effective. It worked once that I am aware of in 43 years however the odds of repeating that are nil.

Aug 19, 2016 04:34 AM