Florida real estate is on the up-and-up once more! With short sales declining and total sold closings up once again, the local housing market is looking to continue trending upwards. If you’re considering buying or selling, it is time to get moving. In a recent Florida Realtor’s article breaking down the second quarter of 2018 as compared to 2017, some very positive changes have come to fruition in the FL housing market.
Christine Hansen, the 2018 Florida Realtors President, said that, “Despite tight inventory levels, it’s encouraging to see that new listings for single-family homes over the quarter rose 4.9 percent year-over-year, while new condo-townhouse listings rose 3.9 percent. If that trend continues, it will hopefully help ease buyer demand and slow the pace of rising prices.” That’s a true win-win for the local housing market for sure!
Other welcome increases included: median sales price for single-family existing homes rose 6.7%, short sales for condo-townhouses & single-family homes declined 41.4% & 45.2 percent respectively, and half of homes sold in the second quarter were only on the market for 35 days or less! For the in-depth article, click here to check out the Realtor site break-down. With over 40 years experience, the Malowany Group is ready and willing to help you make the most out of this amazing housing market, so contact our team today.
Image courtesy of City of St Pete via Flickr