ORLANDO, Fla. – May 22, 2013 –Florida’s housing market reported more closed sales, rising median prices, increased pending sales, more new listings and a lower inventory of homes for sale in April, according to the latest housing data released by Florida Realtors®.
“Buyer demand is rising, but the inventory of homes continues to be tight in many areas across Florida,” says 2013 Florida Realtors President Dean Asher, broker-owner with Don Asher & Associates Inc. in Orlando. “That’s putting some upward pressure on prices. April is the 16th 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.
“In another positive sign for Florida’s housing market, sellers received over 93 percent of their original listing price in April, whether they were selling a single-family home or a condo. Now is a good time for sellers who have been waiting on the sidelines to enter the market.”
Trafalgar is a direct ocean front community located in luxurious Highland Beach in Palm Beach County. Simply walk out the back of the building and your toes touch the sands of the Atlantic! Trafalgar boasts luxurious amenities such as a hot tub, spa, private beach access, exercise area, pool and play area. Stunning views of the ocean and intracoastal along with varying sizes ranging from 2 bedrooms and 2 bathrooms up to 3 bedroom, 3 bathrooms, gives buyers many options. Trafalgar is not a 55 and older community and they do allow one small pet.
In the last 12 months, six condos have sold ranging from $460,000 for a 1,745 square foot 2/2 to $675,000 for a 2265 square foot 3/3.
Average Sales Price: $547,000
Median Sales Price: $505,500 or $295.31 per Living Sq.Ft.
Average Days on Market: 256
Average Sales to List Price Ratio: 88.5%
Trafalgar of Highland Beach is located at 2912 & 2917 S Ocean Blvd in Highland Beach, FL Map
For more information please click on the current listings link below. Or click the mail icon at the top of this page to send a private email to me.
In the first quarter of this year, housing affordability continued to hold near its historic highs, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.
From the beginning of January to the end of March, 73.7 percent of new and existing homes sold were affordable to families earning the U.S. median income of $64,400, NAHB reports. That is down slightly from 74.9 percent in the fourth quarter of 2012.
Low mortgage rates continue to be a main driver of housing affordability over the past four years, says NAHB Chairman Rick Judson.
However, “from a builder's perspective, it should be noted that rising costs for building materials, lots and labor are making it somewhat more expensive to construct new homes in today's market," Judson says.
5 Most Affordable Major Housing Markets
Source: National Association of Home Builders
WASHINGTON – May 20, 2013 – Growth in home sales and prices is contributing to a broader improvement in the overall economy, aided in part by current homeownership tax treatment, according to presentations at a residential real estate forum during the National Association of Realtors® Midyear Legislative Meetings & Trade Expo.
NAR Chief Economist Lawrence Yun said a multiyear housing recovery is likely. “Steady job creation and household formation have been helping to unleash a pent-up demand in the housing market,” he said. “Lagging housing starts and a continuing housing shortage mean home prices are primed to rise further, by 13 percent cumulatively in 2013 and 2014, which will add more than $2 trillion to household wealth over this period.”
30YR FRM: 3.70%
15YR FRM: 2.86%
FHA 30YR FRM: 3.27%
Jumbo 30YR FRM: 3.79%
Check out various videos on what to do in Florida from wreck diving and feeding gators to wake boarding and trail hiking.
I've prepared this report for some friends in Seneca Falls, NY. I have access to markets across the country and can research a vast range of statistics from median sales prices to the number of manufacturing jobs in a particular zip code. I have access to reports that can give guidance on what businesses in particular may be in demand for a specific area. Contact me and spread the news!
The median sales price in Wellington is up 28.3% in Oct. 2012 vs. Oct. 2011. Homes are staying on the market for an average of 140 days and sellers are getting 91.2% of their original asking price. The supply of homes has been cut in half compared to the same time last year.
Median sales price for single family homes and townhouse-condos in Broward County are up 15.9% and 14.6%, respectively, in Oct. 2012 vs. Oct 2011. Sellers are selling at prices closer to the original list price and inventory continues to drop significantly.