Market Watch With Brad O’Connor – 05/24/17
In April, the statewide median sale price for single family homes rose by 10.3 percent year-over-year to $234,900, continuing a trend of double-digit percent…
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Rising median prices and constrained inventory remained a prevailing trend in Florida’s housing market in April, according to the latest housing data released by Florida Realtors®. The trend resulted in a loss of momentum for home sales: Sales of single-family homes statewide totaled 23,829 last month, easing slightly (-1.2 percent) when compared to April 2016.
“Low inventory means fewer homes on the market and increased competition for those homes,” said 2017 Florida Realtors President Maria Wells, broker-owner with Lifestyle Realty Group in Stuart. “It puts consumers in a position where they have to be prepared and ready to buy, as many Realtors around the state report seeing more instances of multiple offers. And, without more for-sale homes, median prices will continue to rise due to demand. In April, sellers of existing single-family homes received 96.2 percent (median percentage) of their original listing price, while those selling townhouse-condo properties received 94.7 percent – an indication that the listed price is extremely close to market value. Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
May 27, 2017 at 11:17AM