Looking at the condo market, there have been 3,266 condos listed in the tri county bay area over the last 90 days. Average list price is $196,755 with 1,164 sf and $142.60 per square foot. Listings during the same period one year back, there were 3,926 listings. This is very important as a reduction in inventory will reflect in buyers choices and increasing sale prices.
The total current listings on the market is 6,637 active and 1,380 pending.
The average sale price for closed sales during the last 90 days is 1,360 with an average sale price of $161.44 per square foot. Compared to last years there were 1,144 sales at an average of $162.09 per square foot. Although not a significant value change, it is a substantial increase in volume of sales.
I personally feel we are past the deep losses and should see a slight increase but settle in to a stable sales trend for some time. Florida needs to work out tax and insurance issues or we will keep losing population.
Above Statistics based on Condominium listings in MLS only and do not include for sale by owners or transfers in public records not listed in MLS.
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