Monthly sales volume continues to be just slightly above where it was last year (which was a fairly big jump over the year before) so there hasn’t been much change there.
Inventory levels continue to stay very low, and we have hit a milestone there because in June we had a slightly lower level of inventory than we had at the peak during the summer of 2005. So we are now just about where we were with inventory, sales and prices at the point when the market turned before. Other conditions that led up to that change are not present like they were back then so it isn’t very likely that we’ll see that happening now.
So unless something unpredictable happens, we should continue this trend for another 6-18 months – but I do think we will see some kind of change with the market after that time period.
Here are the graphs showing what I described above:
(Information for the charts was taken from PRO/Suncoast MLS from Jan 2007 thru May 2011 & from the MFRMLS for May 2011 thru June 2016. This information may or may not include all listed expired, withdrawn, pending or sold properties of one or more members of the My Florida Regional Multiple Listing Service.)