Real Estate Market UpdateOctober 25, 2014
September numbers are in andÂ in reference to the RE/MAX National Housing Report – they look good! According to the report September marks the first time in 2014 that home sales have reached a level higher than one year ago. With that in mind, what else is trending in Florida real estate?
Well, another big take away from this past month is the fact that the year-over-year median sales price has also increasedÂ by 5.4 percent. Up to $195,000 from last year’s $184,990, this spike in price is in large part due toÂ increased and improved market inventory.Â
Speaking of inventory, the number of homes for sale in September was lower than one month previously and one year ago, moving slowly towards market equilibrium. As for the average number of days a home remained on the market, September reached 65.Â This is three days higher than last month, but the 28th consecutive month where they have remained below 90.
All in all, the market report seems to indicate two things – (1) there are interested buyers and (2) the market is strong enough to rival last year’s sales.Â
For more information on how this relates to your future Northwest Florida real estate sale or purchase, contact one of our agentsÂ today atÂ 1.800.879.0309.