Comparing Palm Coast July Home Sales to Florida and U.S.

Metro Palm Coast mirrors year-over-year results, both statewide and national; rising prices, shrinking distressed sales, fewer cash sales but with fewer homes selling.

Palm Coast, FL – August 22, 2014 – Both Florida Realtors and the National Association of Realtors have released their July home sales reports. Metro Palm Coast mirrors both statewide and national year-over-year trends; higher prices, fewer distressed sales, fewer cash sales but with fewer homes selling. How does Palm Coast stack up?

Single-family home market – comparing July 2014 to July 2013

Home sales (completed transactions):

  • Palm Coast – 204 – Down 10.5%
  • Florida – 22,099 – Up 5%
  • U.S. – Down 4.3%

Median selling price

  • Palm Coast – $165,000 – up 6.45%
  • Florida – $185,000 – up 3.6%
  • U.S. – $224,300 – up 3.45%

Distressed sales (REO or short sales)

  • Palm Coast – 30.4%, down from 34.7%
  • Florida – 36%, down from 43%
  • U.S. – 9%, down from 15%

All Cash Sales

  • Palm Coast – 44.1%, down from 45.6%
  • Florida – 37.7%, down from 42.3%
  • U.S. – 29.0%, down from 32.0%

Analysis – Palm Coast continues to work through its distressed inventory. Prices, though rising, remain below both state and national levels.

Watch and listen to Lawrence Yun, chief economist for the National Association of Realtors report:

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