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Florida condo values rise twice as fast as houses

Posted by: In: Real Estate 22 Apr 2014 Comments: 0 Tags: ,

Median townhouse-condo values in Florida have risen 16.7% in the last year, more than twice the 7.1% rate of single-family homes, the latest figures show

Townhouse-condo median price rises in Florida, USA, have risen twice as fast as single home values in the year to March, the latest figures show.

Median townhouse-condo prices – the midpoint of all sales in March – was US$140,000, up 16.7% year-on-year, while single-family home values rose 7.1% annually to US$173,000, according to data from Florida Realtors.

Closed sales volumes rose increased for single-family homes but were down for condos. New listings also rose during March and the price rise was the 28th monthly increase in a row.

Florida Realtors President, Sherri Meadows, who is also CEO and team leader at agent Keller Williams, says, “Realtors across Florida are reporting fewer short sales of distressed properties and more interest from potential home sellers as they observe the return of more traditional market conditions. Statewide, new listings for single-family homes in March rose 16.5 per cent year-over-year, while new townhouse-condo listings rose 10.3 per cent.”

The prices were lower than the US national median for single-family homes, which reached US$189,200 in February, according to the National Association of Realtors® (NAR), and …read more

Source: OPP



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