Florida’s Housing Market on the Upswing

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The Brown Team

 RICK BROWN: (239) 322-2313 BRENDA BOOTH-BROWN: (239) 287-8834 www.TheBrownRealtyGroup.com Florida’s housing market on upswing in March Increased closed sales, more pending sales, higher median prices and a reduced inventory of homes for sale in March were reported on Florida’s housing market according the Florida Realtors®. The median price is up more than 15 percent for both single-family homes and for townhouse-condos. Buyer demand is increasing, but supply continues to be an issue in many areas. In March, the median days on market was 57 days for single-family homes and 61 days for townhouses and condos. Statewide closed sales of existing single-family homes were up 9 percent in March according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. The statewide median sales price for single-family existing homes last month was $160,000, up 15.2 percent from the previous year. Looking at Florida’s year-to-year comparison for sales of townhouse-condos, a total of 9,957 units sold statewide last month, up 1.1 percent compared to March 2012. Meanwhile, pending sales for townhouse-condos last month increased 10.6 percent compared to the year-ago figure. The statewide median for townhouse-condo properties was $120,000, up 15.9 percent over the previous year. NAR reported that the national median existing condo price in February 2013 was $172,500. The inventory for single-family homes stood at a 5.3-months’ supply in March; inventory for townhouse-condos was at a 5.8-months’ supply, according to Florida Realtors. According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 3.57 percent in March 2013, down from the 3.95 percent average during the same month a year earlier. Read full article at:

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