By Toby Tobin
PALM COAST, FL – June 22, 2017 – The Great Recession is over. The rollercoaster ride that is the housing market remains firmly on the ride’s ascending side. Locally, home prices have been rising steadily since the bottom of the ride in January 2012.
In most areas of the country, but not in Flagler County, home prices have risen to exceed the peak of the housing bubble. Analysts typically attribute rising prices to a lack of inventory available for sale. Nationally, the home inventory is at its lowest point in months. Not so in Flagler County where 891 single-family Flagler County homes are listed in MLS. That’s 120 more homes listed than one year ago. But in another key metric, Flagler’s 4 months of inventory is in line with the national 4.2-month supply. And prices are rising here as well.
Flagler – 221, down 6.75% year-over-year (YOY)
Florida – 27,850, up 7.6% YOY
U.S. – up 1.0% YOY
Flagler – $214,900, up 4.3% YOY
Florida – $239,000, up 7.7% YOY
U.S. – $254,600, up 6.0% YOY
Flagler – 2.3%
Flagler – 6.3%
U.S. – 6.0%