Housing Market on Rise!
The end of year reports for 2014 are in!
According to annual data from the Lake City Board of Realtors and the Florida Association of Realtors, the 2014 housing market was on the rise! The report shows that from 2013 to 2014, the Columbia County housing market saw a 20 percent increase in closed sales. Also, the median sale price jumped 4.5 percent from $110,000 to $115,000.
“We’ve been on a nice steady climb,” said Dan Gherna of the Lake City Board of Realtors. “All the stats look great for 2014. The market is strong and stable now.”
Although there have been more homes sold, the median sale price remains lower than the unsustainable prices from 2006, before the market collapsed nationwide. Another good indicator that the market is bouncing back is the drop in inventory. As inventory drops, the prices increase. We saw a 11.9 percent drop in the months of inventory in our Multiple Listing Service.