I know, it’s always kind of unnerving to hear “sales are down”. The truth is that it is not anything very alarming when taking the other factors into account. The truth is that the housing market in Flagler County remains very healthy and on the right track. Let ‘s look at the key areas.
Number of Home Sales
For the most part, the number of sales in 2016 compared to 2015 have lagged slightly behind except for May when sales surged and came in about 15% above May 2015. So far, about 1,313 homes have sold through July of this year which is down about 6% compared to the same period in 2015. But that is about 5% above the same period in 2014. Inventory also remains very low for the area with only around 782 homes listed for sale in the County, and less than 600 in Palm Coast. Foreclosures and Short Sales have become virtually non existent in the area.
Median prices began an upward trend a couple of years ago and are continuing on that path again this year. For home sales through July of this year, the median price is around $194,000. This is up about 18% compared to the same period in 2015 and about 25% compared to 2014. This is a very positive sign for the area especially with the number of sales holding on to around the same level.
All in all, Flagler County remains a healthy market. The number of sales dropping is notable, but is also understandable with the level of inventory available for sale. Demand is remains at a good level with an average days on the market so far this year at around 104 days. We typically see lower number of sales in the fall with November and December picking up slightly.
Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 8/14/2016 for Residential Houses. Information may be deemed reliable, but is not guaranteed