The sales for this area last month could be called an ‘October surprise’.
October sales almost always shows a decline from September but this year there was not only a SIGNIFICANT increase over September and a significant increase over all previous October sales back through 2007, but it was the 3rd highest month going all the way back to 2006!
Also, we saw the inventory level drop below the same month last year for the first time in all of 2014. So the market is still going very strong. The only statistic that has not kept up to last year’s pace is price increase which has slowed some but is still showing an increase.
The next 2-3 months will be the best time for buyers while starting in January will begin the best time for sellers. If you’d like to know why, please send me an email and I’ll go over that with you.
Here are the sales and inventory graphs showing how October went (click to see full-sized):
Information for charts above was taken from PRO/Suncoast MLS from Jan 2007 thru May 2011 & from the MFRMLS for May 2011 thru October 2014. This information may or may not include all listed expired, withdrawn, pending or sold properties of one or more members of the My Florida Regional Multiple Listing Service.