U.S. and State April Home Sale Numbers Released: How Did Flagler Stack Up?

National comparisons do not yield much, but Flagler County closely mirrors the Florida market.

PALM COAST, FL – May 22, 2016 – Florida Realtors® and National Association of Realtors® (NAR) have released their reports of April home sales. Flagler County numbers reflect the Florida market much more closely than the national market.

Nationally, April home sales increased 6.2% year over year. NAR reports a 4.3% increase in the South. Florida’s April home sales declined 0.6% over the same period. Flagler experienced a more severe decline of 21.7% year over year.

Nationally, all cash sales were 24% of April transactions. In Florida and Flagler County, cash sales were 31.2% and 38.7% respectively. Higher levels of all cash sales are often thought to indicate increased levels of investor purchases.

The median selling price of all U.S. single-family homes sold in April was $233,700, an increase of 6.2% over last April. Florida’s median selling price was $213,000, a 9.2% increase. Flagler’s median price was $185,500, 9.1% above last April’s median.

Distressed sales (foreclosures and short sales) were 9.8% of all home sales, the first time below 10% since the Great Recession. Florida’s distressed sales was 13%. U.S. distressed sales were 7.0%. The shortage of distressed properties in Flagler County are likely the primary cause of the relatively greater decline in Flagler home sales in April.

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