Florida real estate statistics report fewer homes for sale with prices going higher. In November, median home prices increased 13.6% over the prior year. Inventory is down to only 4.5 months across the state, which is 25% below the number of homes for sale in a ‘balanced’ market. This is good news for sellers, however, buyers should reconsider trying to time the purchase of a home in the Sunshine State. In Florida, the median selling price for both homes and condos has increased 48-months in a row. In New Smyrna Beach, cash sales in November were up 76% from a year prior; a good indication that investors are buying now.
Tony DeCamillis, Realtor - New Smyrna Beach, FL
(855) 492-3456 - www.nsbrep.com
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