April is typically one of the strongest sales months of the year. This year we didn’t quite reach the same peak we saw last April, which was the second strongest month since the end of 2006, but we did come close. This indicates that the local market is still strong and now that the big investors have moved out the market more these sales are mostly regular buyers.
Inventory is slightly up from last year but is still very low and buyers are noticing that. It will assist prices to continue rising at a good pace which is why more people who were waiting to sell are now looking more closely at taking the leap. We dropped below a 4 month inventory level again which is very low and which means we are still in a strong sellers market for now.
With these conditions there are mistakes sellers and buyers can make and I’ve written an article this month to tell you which ones to avoid.
Here are the graphs showing the April sales and inventory:
Information for charts above was taken from PRO/Suncoast MLS from Jan 2007 thru May 2011 & from the MFRMLS for May 2011 thru April 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 This information may or may not include all listed expired, withdrawn, pending or sold properties of one or more members of the My Florida Regional Multiple Listing Service.