The average number of home sales in the past seven months is still slower than the previous six months, but inventory is diminishing and prices continue to rise, once again raising questions of affordability.
The 247 homes sold in June reduced the county’s supply to just five months’ worth, tilting the market to sellers’ advantage, while prices saw a healthy rise as well.
Sales of single family homes in Flagler were up 9.5 percent in August over a year ago, 10.8 percent across Florida, while pending sales have skyrocketed in further signs of health for the battered housing sector, even as prices still stagnate.
Palm Coast’s and Flagler County’s real estate market can take heart: for the first time in half a decade, the home-buying industry is looking a lot less grim than it’s been, even if prices have yet to catch up to the uptick in sales.
Sales are increasing somewhat by volume but more than half the transactions are for cash, prices keep falling, foreclosures are increasing, and the overall economy shows little sign of improvement.
One publication declares Palm Coast real estate gold for retirees, another declares Palm Coast a lost cause for home prices.