By Brett Ellis
If you read our article on a consistent basis you’ve been hearing about a decrease in pending sales and a potential shift in the SW Florida real estate market. Official numbers confirm a February real estate sales drop in SW Florida.
Nationally existing home sales fell 7.1% in February. Locally home sales were down 12.8%. This wasn’t a difficult prediction to make as we’ve been watching pending sales decline. The good news is we made some adjustments to our listings in reaction to the market and we’ve been able to get many of our listings under contract in March. Regardless of whether the market is up, down, or sideways, understanding the market and making changes can be the difference between success and riding the merry go round awhile longer.
Median sales prices are up 11.8% over last year. They are down 6.95% from January numbers. Average sales prices are down 1.2% from last February and down 31.23% from January. This is why we use median price as a more valid indicator than average price because it’s a more stable indicator and less susceptible to wide variations due to a few large or small sales.
February Real …read more
Source:: Top Agent