Florida’s housing market had increased pending
sales and higher median prices in April, along with a greatly reduced
inventory of homes and condos for sale, according to Florida Realtors®
latest housing data.
“Here
in Florida, we’re seeing some strong numbers that show positive
momentum for the state’s housing recovery and our economy,” said 2012
Florida Realtors President Summer Greene, regional manager of Better
Homes and Gardens Real Estate Florida 1st in Fort Lauderdale. “Home
prices continue to rise in many markets. Inventory is down to extremely
low levels while pending sales are on the rise – almost 38 percent for
single-family homes and 25 percent for town-homes and condos. It is not
unusual to see multiple offers.
“Now
the challenge will be for appraisals to catch up. Overall, we are very
happy to see the market move in this direction and expect this trend to
continue.”
Pending
sales refer to contracts that are signed but not yet completed or
closed; closed sales typically occur 30 to 90 days after sales contracts
are written.
The
statewide median sales price for single-family existing homes in April
was $144,350, up 10.2 percent from the year-ago figure, according to
data from Florida Realtors Industry Data and Analysis department, and
vendor partner 10K Research and Marketing. The statewide median for town home-condo properties was $108,000, up 16.1 percent over April 2011.
