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Market Report

Local Market Destin Sandestin and 30A Real Estate June 2013

The market is seeing an overall decline in the inventory there are still a few good deal if you know where to look.
Closed sales +22.7%
Pending Sales +44.4%
Months Supply of Inventory – 26.4%

The rental market is stronger than it has every been (literally).
A decrease in availability, will soon cause rentals rates to trend up increasing the ROI on vacation rentals.

June market grid

Florida Real Estate Market

June 20, 2013 – Florida’s housing market continued its upswing in May, with higher closed sales, more pending sales, rising median prices, more new listings and a lower inventory of homes for sale, according to the latest housing data released by Florida Realtors®.

“Home sales continue to increase, it’s taking less time for sales to close, and median sales prices are on the rise,” said 2013 Florida Realtors President Dean Asher, broker-owner with Don Asher & Associates Inc. in Orlando. “This is the 17th month in a row that we’ve seen the statewide median sales prices increase year-over-year for both single-family homes and for townhome-condo properties.

“Sellers are seeing this momentum in Florida’s housing sector and it’s prompting many to decide now is the time to list their property for sale. Statewide, new listings for single-family homes increased 10.2 percent in May, while new townhome-condo listings rose 7.1 percent.”

Statewide closed sales of existing single-family homes totaled 22,375 in May, up 18.7 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. Closed sales typically occur 30 to 90 days after sales contracts are written.

Meanwhile, pending sales – contracts that are signed but not yet completed or closed – for existing single-family homes last month rose 30.8 percent over the previous May.
full article here http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=292994

 

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