Thursday, December 19, 2013

Florida’s real estate is improving.

Yes, the Florida real estate is improving and it is nearly back to its normal conditions. The following data show this and the forecast is that the trend goes in the same direction for next two years.
As the last statistics of November 2013 show, sellers get 94 % of their asking price. Over the last 3 years, the difference between listing and sale price was much bigger than 6 %.  This situation is also backed by the available homes on the market. More active listings help the market to recover in a healthy way.
In comparison to November 2012, the active listings have increased by 14.8 % for single-family homes and new listings for condominiums arose by 5.4 % since November 2012.

The median price for a Florida single family home is $169,900 that is up by 13.3 % in comparison of November 2012 and the median price for townhouses and condominiums is $131,200 up by 17.2 % from November 2012.

The Florida numbers are still below the national median numbers. The median price for the single family home is $199,500 and $199,200 for condominiums nationwide.

The statistics also show that there are also fewer short sale and only cash deals during the examined period. That indicates that the market is going back to traditional conditions.

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