Sanibel real estate blog: February Florida housing market continues upswing

Straight from the Florida Association of Realtors: February reports show more closed sales, rising median prices, increased pending sales, more new listings and a reduced inventory of homes for sale.

February is the 14th month in a row that statewide that for both  single family and condos, there was an increase in median price. That number for single family in February was $150,000 ( up 12% over previous year). The condo median price was up 21% to $169,600.

Statewide closed sales totaled 15,666  (single family) in February, up 10.3% compared to a year ago. Closed sales for condos were 8028 units, up 7% from last year.

Experts say the low inventory and cheap money ( 3.53% for a 30 year fixed rate mortgage) are the factors driving the current market.  Add to that, the sunshine, warmth, golf, beaches, tennis  and Florida becomes the perfect place to buy.

If thoughts of  

Sanibel Island beach

Sanibel real estate purchase  come to your mind, give Chuck Andrews a call at 239-849-3396 or check out our listings at www.chuckandrews.com

 

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