According to the National Association of Realtors (NAR), new home sales in February were down not because of buyers but because of builders trying to catch up with a back log of orders and putting new starts on hold. Rapidly rising material costs are another factor; I had a conversation today with an owner of a commercial plumbing business who said the cost of PVC has increased 100% in the past four months alone!
Florida Realtors Chief Economist Dr. Brad O’Connor says, “The statewide inventory of active single-family home listings, which Florida Realtors has been tracking since January 2008, is currently at an all-time low. At the end of February, single-family inventory was down 56.3% compared to a year ago. Most of this decline has been a result of our ultra-high rate of sales.”
Our local market definitely reflects those same trends. This week area Realtors closed thirteen sales and wrote up eighteen new contracts. Sellers added eight new listings, only two of which were homes with one already being under contract, and changed prices on ten listings, several of which were price inccreases.
Our overall inventory is down nine from last week, closing at 137, with a mere 28 homes and 109 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS market.
As you can see, we need inventory, if you’re thinking of selling call or text me at 850-227-5197 or drop an email to [email protected] and we’ll get started. I hope you’re enjoying this beautiful Spring weather, and I really appreciate your taking a break from being out and about to stop by today. Have a great week and hope to see you back here soon.
Reminder – If you would like to read this with the links to the various listings, I can only email them to you now with our new MLS which I’ll be glad to do. Just let me know by sending me a request to [email protected] and I’ll set you up to receive my blog post with the links each week.