Housing data from Florida Realtors shows that median home prices in Florida rose, listings increased, and less only-cash deals closed in February. Overall, real estate statistics in Florida saw some positive changes and Florida Realtors also discussed how to continue reporting the most accurate numbers they can. All of these changes are good for both buyers and sellers.
“Realtors across the state are reporting great interest from buyers, but with inventory levels still tight for single-family homes, the search can take time,’ said 2016 Florida Realtors®President Matey H. Veissi, broker and co-owner of Veissi & Associates in Miami. “New listings increased in February, which is good news for would-be buyers: for existing single-family homes, new listings rose 12.1 percent compared to a year ago; new listings are up 15 percent for townhouse-condo units.
“And the good news for sellers is that they’re receiving more of their original asking price at the closing table. Sellers of existing single-family homes in February received 95.3 percent (median percentage) of their original listing price, while those selling townhouse-condo properties received 94.4 percent (median percentage).’
Florida Realtors Chief Economist Dr. Brad O’Connor also discussed how February’s market report debuted a new processing system developed by their analytics team.
“Ensuring the accuracy, quality and utility of our housing market statistics is top priority for Florida Realtors’ Industry Data and Analysis department and we continue to constantly seek ways to get closer to perfection in these regards,’ he explained. “This month’s report in particular represents the culmination of several months of very hard work by our analytics team. Several new metrics have been added to the reports, plus we’ve fine-tuned the processes that take in the millions of MLS listings generated daily by Florida’s 155,000-plus Realtors and generate our statistics.”
Clearly, February was a great month for real estate in the Sunshine State, based on both real estate statistics in Florida and the changes being made by Florida Realtors. As a buyer or a seller, contact RE/MAX Paradise today for more about Miami real estate.