Here is the South Florida Real Estate Market Look for February.
- The number of homes for sale dipped again in February. This is the seventh consecutive month the number of homes for sale has fallen, compared to the prior month. The talking point here is that it is a great time to sell (very little competition);
- The inventory of available properties for sale did not change much, it is still hovering around 1.1 months available. While this is historically very low, it is consistent over the last twelve months in the county. For sellers, this is the perfect scenario (multiple offers, quickly going under contract). For buyers, a frustrating road to find and purchase the property they want.
- Days on the market has not moved much over recent months (34 days in February). This number is half of the historic average for this part of Florida (it typically runs about 70 days, on average).
Gary Pirtle