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Flagler County December Sales Slide, But Year Finishes Up
I started tracking the area’s real estate performance monthly since 2009, and this is the first time in the past nine years that December had a lower number of sales compared to November. December came in about 17% below December 2017. Interestingly enough this year had the highest performing November with 196 residential home sales which was about 28% above November 2017. November is typically one of the lowest months of each year for sales. Essentially the activity shifted which has occurred before based upon various economic or legislation factors.
All in all 2018 was another up year for the area. The number of residential home sales increased about 7% compared to 2017 coming in at about 2,488. This was about an 11% gain compared to 2016. Median home price rose by about 5% versus 2017. And inventories continue to remain low currently around 850 residential homes listed for sale..
Cash purchases accounted for about 34% of closings this year. The decline in cash purchases has been the trend over the past few years as lending has opened up and interest rates remain low.
Check out the latest market statistics here.
So what should we expect in 2019 for the area? That’s tough to say. ... more
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