Can you believe it? We are already in the 4th quarter of 2019 and gearing up to end the year. So far this year it has been and still is a Seller’s Market.
Below is the third quarter stats for single-family housing in Polk County.
As usual, note the seasonal decline in the supply of houses for sale that typically begins in February or March and continues through June. Then the gradual increase that usually starts in July and continues through the end of the year or first part of the following year. Note too, the red line that indicates properties under contract or pending, has remained relatively high and even accelerated in September.
Below is the average days on the market chart.
According to the chart above, the average days on market for Polk County in September was 57 days. This is the average, days can vary depending on pricing, location and uniqueness of property.
Below is a chart showing the average price per square foot sold.
What will be interesting to see, is if this continues to trend upwards on in to the fourth quarter.
If it does and the supply of homes coming on the market does not expand much more, it could mean that prices will increase during the second quarter of next year. This will be especially true if the new construction inventory does not grow a lot.
What are these market trends showing? That it is still a good time to put your home on the market!
*All reports are published October 2019, based on data available at the end of September 2019, except for the today stats. All reports presented are based on data supplied by the My Florida Regional MLS DBA Stellar MLS. The My Florida Regional MLS DBA Stellar MLS does not guarantee or is not in anyway responsible for its accuracy. Data maintained by the My Florida Regional MLS DBA Stellar MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
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