Lets talk about thesingle family data first. There was a slight increase in closed salesand a slight decrease in the number of cash sales. The price is about8% higher which what it’s been running most of the year. Inventoryis slightly down but months of supply is pretty much in the middle ofthe 3-6 month range which indicates a normal market.
Condo Data – Therewas again an increase in the number of sales over the same month ofthe previous year. Also prices again have risen, although not quiteas much as the single family homes. The interesting thing here is thedays to contract which is up to two months. That number is still ahealthy one but it has been climbing. Months of supply is still under 6 which is in thehealthy range. Another thing with condos is cash sales are stillrunning about 60% of the total. That’s almost twice the percentageof single family properties.
When looking at thisdata you have to remember that generally the condo market have fewersales, appreciate slightly slower and take longer to contract thansingle family properties.
We are reaching thehistoric highs of the pre-crash market. Everyone is watching closelyto see if this market is going to correct. So far the data does notindicate that to be the case. Let’s hope we can avoid the mess ofthe last correction.
Have a great day
Exit Realty Premier
Author:Gary Benson Phone: 561-445-2331 Dated: July 27th 2017 Views: 114 About Gary: ...
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