- May 4, 2024
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The 222 single-family homes that were sold in July in the Palm Coast/ Flagler County housing market is up only slightly (1.8%) from last year, but the median sales price has jumped dramatically: 22% higher than last year.
The numbers were released this week from the Florida Realtors Industry Data and Analysis Department, in partnership with local Realtor boards/associations.
National Association of Realtors reported 42 closed sales on townhouses/condos — up 68% from last year. The median sale price for those homes was $183,250, a year-over-year increase of 52.7%.
Local real estate agent Karen Farrell, of the Farrell Group of Parkside Realty, can see these numbers reflected every day.
“What I’m seeing personally is that the number of days a house spends on the market is dwindling big time,” she said. “Inventory is going way down and pricing is starting to inch up — the cheap, cheap homes are gone.”
In the last two days, there have been 36 new listings in Flagler County. As of Tuesday morning, there were only 14 homes in Palm Coast listed under $100,000.
Even in Flagler Beach, Farrell said, the housing prices have stabilized and are inching forward.
“It’s exciting to see the market,” she said. “Now is time to buy. I don’t see things skyrocketing, but I do see them rising more than anyone expected.”
Farrell said the market is not just exciting from a professional standpoint, but also as a homeowner because as sale prices rise, she sees the value of her home going up.
Statewide
Statewide data from the National Association of Realtors shows closed sales of existing single-family homes totaled 21,238 in July, up 20.9% compared to the year-ago figure.
The national median sales price for existing single-family homes in July 2013 was $214,000, up 13.5% from the previous year. In California, the median was $433,760; in Maryland, it was $286,758; New York $241,947.
Looking at Florida’s year-to-year comparison for sales of townhouse/condos, a total of 9,430 units sold statewide last month, up 16.8% from July 2012. The statewide median price for townhouse/condo properties was $128,000, up 21.9%. NAR reported that the national median was $209,600.
“Florida’s housing market is growing, and that’s good news for our economy,” said 2013 Florida Realtors President Dean Asher, broker-owner with Don Asher & Associates Inc. in Orlando.
