Southwest FL Real Estate Market Update

According to the April real estate statistics released this week, median prices and inventory continue to gradually increase and days on market are getting shorter.  Pendings were down 11% from April 2015 and closings dipped just 7%.
 
The first quarter was off to a slow start, but the first month of the 2nd quarter has started to show some rebound.  Showings are up and that generates interest and activity. 
 
Single family homes in the $500,000 to $1 million price point pendings were up 12% from 2015 and closings in this category were up 11%. 
 
A lot of activity in the "sweet spot" of the condo market $300K to $500K, up 20% compared to the 12 month ending of April 2015.  Closings were also stronger compared to last year.  
 
Home builders developments are busier then ever.  They are giving customers great upgrade allowances.
 
Whether it's resale or new construction, there are good deals out there for everyone to benefit from. 
 
By: Kathy Zorn
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