RE/MAX Housing Report RecapJuly 7, 2014
Every month, RE/MAX researches roughly 52 metropolitan markets to better gauge where the US Housing Market stands. While the market was off to a chilly start this year, the past few months have shown increased prices, decreased inventory and fewer days on the market.
For the most part, Northwest Florida real estate has fallen inline with those nationalÂ predictions, except for the stable level of inventory and available listings according to a report released by the National Association of Realtors. That said, it is still important to know and understand the RE/MAX National Housing Report.Â
The most recent report indicates that home sales have risen higher than in previous months, but still lag 7.8% behind fromÂ sales last year. Home prices on the other hand have increased 5.8% from April 2013 to reach a median price ofÂ $190,000.Â
The number of days a home is on the market continued to fallÂ for the 23rd month in a row. From listed to contract, the average days has decreased from 77 in April 2013 to 74. This however continues to be associated with a low inventory of homes for sale.Â
Even though prices are not growing at the rate they did last year, it is important to look at everything as whole. That said, these things combined indicate that the market has started to settle into a more stable growth pattern.Â
For more information on your local market, contact a RE/MAX agent in Destin today.