Sales and inventory both fly higher in florida

Photo: Fifth World Art

Sales and supply of property in Florida are flying higher, according to new figures from Florida Realtors.

Closed sales of single-family homes statewide totaled 23,013 last month, up 3.6 percent over the May 2013 figure. New listings for single-family existing homes in May also rose 13.1 percent year-over-year, while new listings for townhouse-condos rose 3.9 percent over the previous year.

The statewide median sales price for single-family existing homes last month was $180,000, up 4.3 percent from the previous year, according to data from Florida Realtors Industry Data and Analysis (IDA) department in partnership with local Realtor boards/associations. The statewide median price for townhouse-condo properties in May was $145,000, up 13.7 percent over the year-ago figure.

"Inventory levels continue to improve in Florida, and the months’ supply of homes for sale remains stable – all good signs for the housing market," said 2014 Florida Realtors President Sherri Meadows, also CEO and team leader of Keller Williams.

"Right now, the market offers a great opportunity for sellers, who are seeing nearly 93 percent of their asking price at the closing table. And mortgage rates, though rising, remain historically low – giving consumers more buying power."