The Florida Real Estate Market Road To Recovery — Market Figures For The End Of March 2012
Being a location that has always been given recognition for being one of today’s best world-class destinations, Florida remains to be the fourth most populous state within the country. Many find that its tropical climate conditions paired with its outstanding beaches make it the ideal place to live, especially for people who value the quality of living that is made possible within the area.
Due to these reasons, people from all around the world are looking to take advantage of the fact that the Florida real estate market now offers such an amazing opportunity do so at great deals which explains why the inventory levels have been found to stay within a 6-month supply range which can be broken down at 6.2 months remaining for single-family home properties and 6.3 months remaining for condominium properties.
Based on these figures, it is safe to say that the Florida real estate market is definitely working its way toward the 5.5 month level of supply which is the ideal level for a balanced market.
Now, people who understand demand and supply will know that whenever the supply begins to diminish, price is bound to go up and that is true when it comes to today’s Florida real estate market which has seen an increase of 7.2 percent in median price for single-family home properties while an impressive increase of 16 percent has been seen for condominium properties.
Despite increasing prices across the state, the demand seems to remain strong which indicates that there is a good deal of support coming in, especially from international property buyers who have chosen to invest in the recovering market.
Nevertheless, it is important to keep in mind that figures mentioned are applicable to an extensive area which is why people who would like to find out more information on specific aspects of the Florida real estate market should get in touch with a skilled real estate agent that can provide more accurate details on those areas.
Joan Vonnegut
Florida Real Estate
