NATIONAL ASSOCIATION OF REALTORS: Gen X Recovering, Millennials Still Live with Mom

NAR: Gen X recovering, millennials still live with mom

WASHINGTON – March 7, 2017 – Overall nationwide, an improving economy, multiple years of strong job growth and a notable increase in home values fueled a greater share of purchases from Generation X households over the past year, according to the National Association of Realtors® (NAR) 2017 Home Buyer and Seller Generational Trends study.

The survey also found that:

• A growing number of millennials and younger boomer buyers have children who still live at home
• Student debt is common among Gen X and boomer households
• More millennials are buying outside the city
• Younger generations are more likely to use a real estate agent

The challenges faced by millennials has been widely reported, but Lawrence Yun, NAR chief economist, says little has been said about the many Generation X households who bought a first home and started a family only to be rattled by job losses, falling home values and overall economic uncertainty.

Recent Gen X buyers delayed homeownership longer than millennials because of debt. They're the most likely generation to have sold a distressed property, and the generation most likely to be locked into their current home because it was worth less than their mortgage. Gen X buyers also had the most student loan debt ($30,000).

"Gen X sellers' median tenure in their previous home was 10 years, which puts many of them selling a property they bought right around the time home values were on the precipice of declining," says Yun. "Fortunately, the much stronger job market and 41 percent cumulative rise in home prices since 2011 have helped a growing number build enough equity to finally sell and trade up to a larger home. More Gen X sellers are expected this year and are definitely needed to ease the inventory shortages in much of the country."

The uptick in purchases from Gen X buyers this year (28 percent) was the highest since 2014 and up from 26 percent in 2016. Millennials were the largest group of recent buyers for the fourth consecutive year (34 percent), but their overall share was down slightly from a year ago (35 percent). Baby boomers were 30 percent of buyers, and the Silent Generation made up 8 percent.

Younger boomer buyers increasingly consider adult children

This year's survey also suggests that the soaring cost of rent in many areas is likely convincing middle-aged parents to buy a home with their young adult children in mind. Younger boomers were the most likely to purchase a multi-generational home (20 percent; 16 percent in 2016), and the top reason for doing so was that children over 18 years old either moved back home or never left (30 percent; 27 percent in 2016).

"The job market is very healthy for young adults with a college education, but repaying student debt and dealing with ever-increasing rents on an entry-level salary are forcing many to either shack-up with several roommates or move back home," says Yun. "This growing trend of delayed household formation is one of the main contributors to the nation's low homeownership rate."

Student debt not just a millennial problem

Debt, particularly from student loans, appears to be a portion of the household budget of buyers in every generation. While millennials were the most likely to have student debt (46 percent), their typical balance ($25,000) was lower than Gen X buyers ($30,000). A combined 16 percent of younger and older boomer buyers also had student debt, with a median balance of over $10,000 for each group.

Among the share of buyers who said saving for a downpayment was the most difficult task, millennials were most likely to cite student loans (55 percent), followed by Gen X (29 percent) and younger boomers (9 percent).

"Repaying student debt also appears to be slowing some current homeowners who went to graduate school and now can no longer afford to sell and trade up because of their loans," says Yun. "Nearly a third of homeowners in a NAR survey released last year said student debt is preventing them from selling a home to buy a new one."

More millennials moving to suburbs … with kids

Similar to previous years, roughly two-thirds of millennial buyers are married. One aspect of their household that has changed is the number of children in them. In this year's survey, 49 percent of millennial buyers had at least one child, which is up from 45 percent last year and 43 percent two years ago.

With more kids in tow, the need for more space at an affordable price increasingly pushes millennial buyers outside the city. Only 15 percent of millennial buyers bought in an urban area, which is down from 17 percent last year and 21 percent two years ago.

"Millennial buyers, at 85 percent, were the most likely generation to view their home purchase as a good financial investment," says Yun. "These strong feelings bode well for even greater demand in the future as more millennials settle down and begin raising families. A significant boost in new and existing inventory will go a long way to ensuring the opportunity is there for more of them to reach the market."

Millennial buyers and sellers overwhelmingly go online and use a real estate agent

Regardless of age, buyers and sellers continue to see real estate agents as an integral part of a real estate transaction. In this year's survey, nearly 90 percent of respondents said they worked with a real estate agent to buy or sell a home. This kept for-sale-by-owner transactions down at its lowest share ever (8 percent).

Online and digital technology use during the home search has increased in recent years. Although millennials and Gen X buyers were most likely to go online during, they were also the most likely to buy their home using a real estate agent (92 percent and 88 percent, respectively). On the seller side, millennials were the most likely to use an agent (90 percent), followed closely by Gen X and younger boomer sellers (each at 89 percent).

"Online and mobile technology is increasingly giving consumers a glut of real estate data at their disposal," says NAR President William E. Brown. "However, at the end of the day, buyers and sellers of all ages – but especially younger and often DIY-minded consumers – seek and value a Realtors' ability to dissect this information and use their expertise and market insights to coach buyers and sellers through the complexities of a real estate transaction."

© 2017 Florida Realtors

Are you looking to purchase or sell a Home in Flagler County?  Give me a call.

Robert "Bobby" Keith, Realtor® Realty Exchange

386-793-1426

Flagler County / Palm Coast Saltwater Canal Homes Monthly Sales Report - February 2017

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Flagler County Saltwater Canal Home Sales Report Summary - February 2017

In February, a total of 8 homes on the Saltwater Canal sold in Flagler County.  The average sales price for this months Saltwater Canal Homes was $360,038 while the average days on market was 43 days in Flagler County.

Compared to the same time last year, in February 2016, 10 homes on the Saltwater Canal sold in Flagler County with an average sales price of $337,850, taking on average 168 days on market to sell.

The top home sale of the month was 341 11th Street North in the North Side of Flagler Beach, selling at $525,00000.

The deal of the month was 1 Claymont Court South in the Palm Harbor neighborhood, selling at $213,000.  

Here's a breakdown of sold Saltwater Canal Homes in February.

Palm Coast / Palm Harbor Saltwater Canal Homes Sold February

11 Crazy Horse Court - $337,500 *

29 Flagler Place - $465,000

14 Flarestone Court - $435,000

1 Claymont Court South - $213,000

3 Cherokee Court West - $300,00 *

18 Cottonwood Court - 274,800 *

14 Flarestone Court -435,000

6 Crampton Court - $330,000

* Indicates "Sail Boat Country"

AVERAGE SALES PRICE OF A PALM HARBOR SALTWATER CANAL HOME IN FEBRUARY WAS $336,471

Flagler Beach Saltwater Canal Homes Sold February

341 11th Street North - $525,000

Flagler County Saltwater Canal Home Sales Stats

THE AVERAGE SALES PRICE OF A SALTWATER CANAL HOMES IN FLAGLER COUNTY FOR THE MONTH OF FEBRUARY WAS $360,308.

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Flagler County Saltwater Canal Lot Sales Report Summary

4 Saltwater Canal lots sold in Flagler County in February.  The Average sales price for this months Saltwater Canal Sold Lots was $145,750 while the average days on market was 217 days.  Here's a break down of last months activity.

Palm Coast / Palm Harbor Saltwater Canal Lots Sold in February

6 Claridge Court South - $115,000

4 Old Oak Drive North (Sanctuary) - $180,000

6 Old Oak Drive North (Sanctuary) - $210,000

9 Colonial Court - $78,000

* No other Saltwater Canal lots in Flagler County were sold in February 2017

Thank you for checking out this Months Sales Report for the Saltwater Canal Homes in Flagler County.  All info is believed to be true and accurate, but not guaranteed.  The source for the information is from the Flagler County MLS.  This is not intended to be an estimate of any ones home value. 

To get a Free Home Valuation and find out your homes true value, contact

Robert "Bobby" Keith, Realtor 386-793-1426

Or Click Here and fill out the form

---

Robert "Bobby" Keith, Realtor

386-793-1426

Are you looking to purchase a Saltwater Canal Home in Flagler County?  Give me a call at 386-793-1426 or fill out the Buyer Form Here.

Are you looking to sell your Saltwater Canal Home in Flagler County?  Give me a call or fill out the Seller Form Here.

 

Study: Florida Property Taxes Average Compared to Other States

Study: Fla. property taxes average compared to other states

WASHINGTON – March 1, 2017 – The average American household spends $2,149 on real estate property taxes each year, plus another $402 for residents of the 27 states with vehicle property taxes. With such high costs, it's no surprise that about $11.8 billion in property taxes go unpaid each year, according to the National Tax Lien Association.

To determine who pays the most relative to their state, WalletHub, a personal-finance website created a 2017 Property Taxes by State report.

Overall, Florida ranks near the middle for property taxes – No. 27 out of 50 states – even though it's one of only a handful of states without a personal income tax. In addition, WalletHub looked at vehicle property taxes paid each year, and Florida is one of the 24 states that don't charge any vehicle tax.

• Real-estate property tax rank: No. 27
• Vehicle property tax rank: No. 1
• Real estate tax on median state home value: $1,686
• Real estate tax on median U.S. home value: $1,894
• Vehicle property tax on best-selling car: $0.00

© 2017 Florida Realtors

Are you looking to purchase a Saltwater Canal Home in Flagler County?  Give me a call at 386-793-1426 or fill out the Buyer Form Here.

Are you looking to sell your Saltwater Canal Home in Flagler County?  Give me a call or fill out the Seller Form Here.

Robert "Bobby" Keith, Realtor® Realty Exchange

386-793-1426

Florida Consumer Confidence Down From January's Record High

Fla. consumer confidence down from Jan.’s record high

GAINESVILLE, Fla. – Feb. 28, 2017 – After three months of positive gains, consumer sentiment among Floridians fell 3.3 points in February to 94.0, according to the latest University of Florida (UF) consumer survey.

The pattern in Florida is similar to consumer sentiment at the national level as measured by the University of Michigan. It dropped 2.2 points in February to 96.3 from January's record 98.5.

"While readings about current economic conditions increased slightly, expectations for the future decreased sharply among Floridians in February," says Hector H. Sandoval, director of the Economic Analysis Program at UF's Bureau of Economic and Business Research.

Current conditions
Floridians' perceptions of their personal financial situation now compared with a year ago ticked up six-tenths of a point this month, from 87.7 to 88.3. Opinions as to whether now is a good time to buy a big-ticket household item such as an appliance inched up seven-tenths of a point, from 100.7 to 101.4.

"The increase in these two components reflects that current economic conditions have improved in general among Floridians. These perceptions are particularly strong among men, those 60 and older, and those with income levels over $50,000," Sandoval says.

Future expectations
However, all three components that ask about future economic conditions showed a marked decrease. Expectations of personal finances a year from now showed the greatest decline in this month's reading, dropping 6.6 points from 106.0 to 99.4.

Opinions about the national economy were also negative: Expectations of U.S. economic conditions over the next year decreased 5.2 points, from 96.8 to 91.6. Anticipated U.S. economic conditions over the next five years fell from 95.1 to 89.3, a 5.8-point drop.

"Expectations about future economic conditions increased between November and December of last year but have declined since then," says Sandoval. "Floridians are pessimistic about their future personal finances independent of their socioeconomic and demographic status. The greatest declines in perceptions about the national economy were among women, those under age 60 and those with annual income above $50,000."

Until September 2016, the current economic conditions components and the future expectations components moved in tandem. But from September 2016 until February 2017, the future expectations components went up faster and stayed above the components reflecting current conditions.

"Expectations about the U.S. economy improved greatly before and right after the presidential election, perhaps because the population was optimistic about the incoming administration," Sandoval says. "However, these expectations are turning pessimistic in February, and the gap between the present perceptions and future expectations has disappeared."

Overall, economic activity has expanded and the labor market continued to strengthen in the U.S. As a result, the Federal Open Market Committee decided earlier this month to keep the benchmark overnight lending rate target at a range of 0.5 percent to 0.75 percent.

In recent months, Florida job gains have remained strong and the unemployment rate has remained low, reflecting the state's positive economic environment.

Economists look to consumer sentiment as an early signal of future conditions, because confidence among consumers leads to spending and consumption. "High levels of confidence are important to keep the economy growing," Sandoval said. "The next few months will be key to assessing the potential economic outlook for the following years."

Conducted Feb. 1-23, the UF study reflects the responses of 489 individuals who were reached on cellphones, representing a demographic cross section of Florida. The index used by UF researchers is benchmarked to 1966, which means a value of 100 represents the same level of confidence for that year. The lowest index possible is a 2, the highest is 150.

© 2017 Florida Realtors  

Are you looking to purchase a Saltwater Canal Home in Flagler County?  Give me a call at 386-793-1426 or fill out the Buyer Form Here.

Are you looking to sell your Saltwater Canal Home in Flagler County?  Give me a call or fill out the Seller Form Here.

Robert "Bobby" Keith, Realtor® Realty Exchange

386-793-1426

U.S. Consumer Confidence Hits 15 Year High

U.S. consumer confidence hits 15-year high

NEW YORK – Feb. 28, 2017 – The Conference Board Consumer Confidence Index increased to 11.48 in February after a modest decline the month before (111.6 in January).

The Present Situation Index rose from 130.0 to 133.4, and the Expectations Index that gauges attitudes about the future economy increased from 99.3 last month to 102.4 in February.

"Consumer confidence increased in February and remains at a 15-year high (July 2001, 116.3)," says Lynn Franco, director of economic indicators at The Conference Board. "Consumers rated current business and labor market conditions more favorably this month than in January."

Current conditions
Consumers' assessment of current conditions held relatively steady in February. Those saying business conditions are "good" declined slightly from 29.0 percent to 28.7 percent, but those saying business conditions are "bad" also decreased – from 15.9 percent to 13.2 percent.

Consumers' assessment of the labor market was also mixed. Those stating jobs are "plentiful" declined from 27.1 percent to 26.2 percent, while those claiming jobs are "hard to get" also decreased, from 21.1 percent to 20.3 percent.

Short-term outlook
"Expectations improved regarding the short-term outlook for business, and to a lesser degree jobs and income prospects," says Franco. "Overall, consumers expect the economy to continue expanding in the months ahead."

The percentage of consumers expecting business conditions to improve over the next six months increased from 22.9 percent to 24.0 percent; however, those expecting business conditions to worsen also rose slightly from 10.8 percent to 11.1 percent.

Consumers' outlook for the labor market was moderately more upbeat. The proportion expecting more jobs in the months ahead increased from 19.7 percent to 20.4 percent, while those anticipating fewer jobs declined from 14.4 percent to 13.6 percent.

The percentage of consumers expecting their incomes to increase rose marginally from 18.1 percent to 18.3 percent, while the proportion expecting a decrease declined from 9.4 percent to 8.2 percent.

The monthly Consumer Confidence Survey, based on a probability-design random sample, is conducted for The Conference Board by Nielsen. The cutoff date for the preliminary results was February 16.

© 2017 Florida Realtors  

Are you looking to purchase a Saltwater Canal Home in Flagler County?  Give me a call at 386-793-1426 or fill out the Buyer Form Here.

Are you looking to sell your Saltwater Canal Home in Flagler County?  Give me a call or fill out the Seller Form Here.

Robert "Bobby" Keith, Realtor® Realty Exchange

386-793-1426

NAR: Pending Home Sales Weaken in January

NAR: Pending home sales weaken in Jan.

WASHINGTON – Feb. 27, 2017 – Insufficient supply levels led to a lull in contract activity in the Midwest and West, dragging January’s pending home sales down to its lowest level in a year, according to the National Association of Realtors® (NAR).

The Pending Home Sales Index, a forward-looking indicator based on contract signings, decreased 2.8 percent to 106.4 in January from an upwardly revised 109.5 in December 2016. Although last month’s index reading is 0.4 percent above last January, it’s the lowest since then.

“The significant shortage of listings last month along with deteriorating affordability as the result of higher home prices and mortgage rates kept many would-be buyers at bay,” says Lawrence Yun, NAR chief economist. “Buyer traffic is easily outpacing seller traffic in several metro areas and is why homes are selling at a much faster rate than a year ago. Most notably in the West, it’s not uncommon to see a home come off the market within a month.”

According to Yun, interest in buying a home is the highest it has been since the Great Recession. Households are feeling more confident about their financial situation; job growth is strong in most of the country and the stock market has seen record gains in recent months.

While these factors bode favorably for increased sales in coming months, buyers are dealing with challenging supply shortages that continue to run up prices in many areas.

“January’s accelerated price appreciation is concerning because it’s over double the pace of income growth, and mortgage rates are up considerably from six months ago,” says Yun. “Especially in the most expensive markets, prospective buyers will feel this squeeze to their budget and will likely have to come up with additional savings or compromise on home size or location.”

Existing-home sales are forecast to be around 5.57 million this year, an increase of 2.2 percent from 2016 (5.45 million). The national median existing-home price this year is expected to increase around 4 percent. In 2016, existing sales increased 3.8 percent and prices rose 5.1 percent.

“Sales got off to a fantastic start in January, but last month’s retreat in contract signings indicates that activity will likely be choppy in coming months as buyers compete for the meager number of listings in their price range,” says Yun.

The Pending Home Sales Index in the Northeast rose 2.3 percent to 98.7 in January, and it’s now 3.6 percent above a year ago. In the Midwest, the index fell 5.0 percent to 99.5 in January, and it’s now 3.8 percent lower than January 2016.

Pending home sales in the South inched higher (0.4 percent) to an index of 122.5 in January and are now 2.0 percent above last January. The index in the West dropped 9.8 percent in January to 94.6, and it’s now 0.4 percent lower than a year ago.

© 2017 Florida Realtors

Are you looking to purchase a Saltwater Canal Home in Flagler County?  Give me a call at 386-793-1426 or fill out the Buyer Form Here.

Are you looking to sell your Saltwater Canal Home in Flagler County?  Give me a call or fill out the Seller Form Here.

Robert "Bobby" Keith, Realtor® Realty Exchange

386-793-1426

More Sales, Rising Prices in January

Fla.’s housing market: More sales, rising prices in Jan.

ORLANDO, Fla. – Feb. 22, 2017 – Florida's housing market reported more closed sales, higher median prices, increased pending sales and more new listings in January, according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 16,779 last month, up 5.2 percent from January 2016.

4 Campbell Court Palm Coast, Florida - Offered at $265,000

"Florida's housing market continues to show positive momentum," says 2017 Florida Realtors President Maria Wells, broker-owner with Lifestyle Realty Group in Stuart. "While existing inventory remains tight, Realtors across the state are reporting interest from both buyers and sellers – and with interest rates expected to rise over the next few months, now is certainly a good time to take action. On the buyer front, new pending sales for existing single family homes in January increased 3.8 percent year-over-year; pending sales for townhouse-condo units increased 6.5 percent. On the sellers' side, new listings for single-family homes rose 7.6 percent year-over-year, while new townhouse-condo listings ticked up 0.9 percent.

"When market conditions are tight, consumers can get ahead by working with a Realtor who's an expert in the local area," Wells says. "A Realtor will have the knowledge needed to help both buyers and sellers through the complex home buying process."

Home sellers continued to get more of their original asking price at the closing table in January: Sellers of existing single-family homes received 95.6 percent (median percentage) of their original listing price, while those selling townhouse-condo properties received 94.6 percent.

The statewide median sales price for single-family existing homes last month was $220,000, up 10.1 percent from the previous year, according to data from Florida Realtors research department in partnership with local Realtor boards/associations. Thestatewide median price for townhouse-condo properties in January was $161,000, up 6.6 percent over the year-ago figure. January marked the 62nd month in a row that statewide median prices for both sectors rose year-over-year. The median is the midpoint; half the homes sold for more, half for less.

Accordingto the National Association of Realtors (NAR), thenational median sales price for existing single-family homes in December 2016 was $233,500, up 3.8 percent from the previous yearthe national median existing condo price was $221,600.In California, the statewide median sales price for single-family existing homes in December was $509,060; in Massachusetts, it was $355,000; in Maryland, it was $269,319; and in New York, it was $240,000.

Looking at Florida's townhouse-condo market, statewide closed sales totaled 7,209 last month, up 6.2 percent compared to January 2016. Closed sales data reflected fewer short sales and cash-only sales last month: Short sales for townhouse-condo properties declined 47.7 percent while short sales for single-family homes dropped 36.3 percent. Closed sales may occur from 30- to 90-plus days after sales contracts are written.

4 Campbell Court Palm Coast, Florida - Offered at $265,000.

"Florida's markets for existing homes are off to a good start in 2017," says Florida Realtors Chief Economist Dr. Brad O'Connor. "Throughout much of this housing cycle, growth in single-family home sales has outpaced that of condos and townhouses, but in January – for the first time since November 2015 – this was not the case, though one month's worth of data alone doesn't indicate a long-term trend.

Also, new listings of single-family homes were up in January compared to last year, including in the $150,000 to $250,000 range where inventory is sorely needed throughout the state. That said, inventory was still down overall in this range, as this segment of the market remains in high demand throughout the state."

Inventory dipped to a 4.2-months' supply in January for single-family homes and was at a 6.4-months' supply for townhouse-condo properties, according to Florida Realtors.

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 4.15 percent in January 2016, up significantly from the 3.87 percent average recorded during the same month a year earlier.

© 2017 Florida Realtors®

Are you looking to purchase a Saltwater Canal Home in Flagler County?  Give me a call at 386-793-1426 or fill out the Buyer Form Here.

Are you looking to sell your Saltwater Canal Home in Flagler County?  Give me a call or fill out the Seller Form Here.

Robert "Bobby" Keith, Realtor® Realty Exchange

386-793-1426

Swift Gains in Fourth Quarter Push Home Prices to Peak Levels in Majority of Metro Areas→

Via the National Association of Realtors®

WASHINGTON (February 9, 2017) — The best quarterly sales pace of the year pushed available housing supply to record lows and caused price appreciation to slightly speed up in the final three months of 2016, according to the latest quarterly report by the National Association of Realtors®. The report also revealed that sales prices in over half of measured markets since 2005 are now at or above their previous peak level.

The median existing single-family home price increased in 89 percent of measured markets, with 158 out of 178 metropolitan statistical areas 1 (MSAs) showing sales price gains in the fourth quarter of 2016 compared with the fourth quarter of 2015. Twenty areas (11 percent) recorded lower median prices from a year earlier.

There were more rising markets in the fourth quarter compared to the third quarter of 2016, when price gains were recorded in 87 percent of metro areas. Thirty-one metro areas in the fourth quarter (17 percent) experienced double-digit increases — an increase from 14 percent in the third quarter.

For all of 2016, an average of 87 percent of measured markets saw increasing home prices, up from the averages in 2015 (86 percent) and 2014 (75 percent). Of the 150 markets NAR has tracked since 2005, 78 (52 percent) now have a median sales price at or above their previous all-time high.  

Lawrence Yun, NAR chief economist, says home-price gains showed little evidence of letting up through all of 2016. "Buyer interest stayed elevated in most areas thanks to mortgage rates under 4 percent for most of the year and the creation of 1.7 million new jobs edging the job market closer to full employment," he said. "At the same time, the inability for supply to catch up with this demand drove prices higher and continued to put a tight affordability squeeze on those trying to reach the market."

Added Yun, "Depressed new and existing inventory conditions led to several of the largest metro areas seeing near or above double-digit appreciation, which has pushed home values to record highs in a slight majority of markets. The exception for the most part is in the Northeast, where price growth is flatter because of healthier supply conditions."

The national median existing single-family home price in the fourth quarter of 2016 was $235,000, which is up 5.7 percent from the fourth quarter of 2015 ($222,300). The median price during the third quarter of 2016 increased 5.4 percent from the third quarter of 2015.

At the end of the fourth quarter, there were 1.65 million existing homes available for sale 2, which was 6.3 percent below the 1.76 million homes for sale at the end of the fourth quarter in 2015 and the lowest level since NAR began tracking the supply of all housing types in 1999. The average supply during the fourth quarter was 3.9 months — down from 4.6 months a year ago.

NAR President William E. Brown, a Realtor® from Alamo, California, says prospective buyers will likely see competition in their market increase even more this spring. "The prospect of higher mortgage rates and more home shoppers in coming months should be enough of an incentive for those serious about buying to start their search now," he said. "There are fewer listings on the market, but also a little less competition than what's expected this spring. Buyers may find just the home they're looking for at a good price and without the possibility of having to outbid others."

Total existing-home sales 3, including single family and condos, rose 3.3 percent to a seasonally adjusted annual rate of 5.57 million in the fourth quarter from 5.39 million in the third quarter of 2016, and are 7.1 percent higher than the 5.20 million pace during the fourth quarter of 2015.  

Despite a meaningful increase in the national family median income ($70,831) 4, rising prices and the boost in mortgage rates at the end of the year slightly weakened affordability compared to a year ago. To purchase a single-family home at the national median price, a buyer making a 5 percent down payment would need an income of $51,017, a 10 percent down payment would require an income of $48,332, and $42,962 would be needed for a 20 percent down payment.

"Even a pick-up in wage growth may be insufficient to compensate the impact of higher mortgage rates and home prices. Increased homebuilding will be crucial to alleviate supply shortages and stave off the affordability hit," added Yun.

Metro area condominium and cooperative prices — covering changes in 61 metro areas — showed the national median existing-condo price was $222,000 in the fourth quarter, up 6.1 percent from the fourth quarter of 2015 ($209,300). Nearly all metro areas (93 percent) showed gains in their median condo price from a year ago.

The five most expensive housing markets in the fourth quarter were the San Jose, California, metro area, where the median existing single-family price was $1,005,000; San Francisco, $837,500; Anaheim-Santa Ana, California, $745,200; urban Honolulu, $740,200; and San Diego, $593,000.

The five lowest-cost metro areas in the fourth quarter were Youngstown-Warren-Boardman, Ohio, $87,600; Decatur, Illinois, $92,400; Cumberland, Maryland, $94,000; Rockford, Illinois, $109,500, and Binghamton, New York, $109,700.

Flagler County / Palm Coast Saltwater Canal Homes Monthly Sales Report - January 2017

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Flagler County Saltwater Canal Home Sales Report Summary - January 2017

In January, a total of 8 homes on the Saltwater Canal sold in Flagler County.  The average sales price for this months Saltwater Canal Homes was $321,313 while the average days on market was 59 days in Flagler County.

The top home sale of the month was 4 Cotton Court in the Palm Coast neighborhood of Palm Harbor, selling at $450,000.

The deal of the month was 1600 Flagler Avenue in the Flagler Beach, selling at $235,000.  

Here's a breakdown of sold Saltwater Canal Homes in January.

Palm Coast / Palm Harbor Saltwater Canal Homes Sold January

9 Clement Court - $321,500

22 Cedarford Court - $400,000 *

6 Conway Court - $302,00

4 Cotton Court - $450,000 *

5 Clinton Court South - $252,000

10 Clinton Court North - $245,000

94 Cimmaron Drive - $365,000 *

* Sailboat Country

Flagler Beach Saltwater Canal Homes Sold January

1600 Flagler Avenue - $235,000

8 homes sold for an average sales price of $321,313 on the saltwater canal in flagler county for january 2017

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Flagler County Saltwater Canal Lot Sales Report Summary

5 Saltwater Canal lots sold in Flagler County in January.  The Average sales price for this months Saltwater Canal Sold Lots was $111,220 while the average days on market was 100 days.  Here's a break down of last months activity.

Palm Coast / Palm Harbor Saltwater Canal Lots Sold in January

17 Coconut Court - $85,000

11 Colonia Court - $70,000

7 Colonia Court - $80,000

Flagler Beach Saltwater Canal Lots Sold in January

167 Lehigh Avenue - $222,100

630 23rd Street South - $99,000

5 saltwater canal lots sold in flagler county for an average sales price of $111,220 in january 2017.

Thank you for checking out this Months Sales Report for the Saltwater Canal Homes in Flagler County.  All info is believed to be true and accurate, but not guaranteed.  The source for the information is from the Flagler County MLS.  This is not intended to be an estimate of any ones home value. 

To get a Free Home Valuation and find out your homes true value, contact

Robert "Bobby" Keith, Realtor 386-793-1426

Or Click Here and fill out the form

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Are you looking to purchase a Saltwater Canal Home in Flagler County?  Give me a call at 386-793-1426 or fill out the Buyer Form Here.

Are you looking to sell your Saltwater Canal Home in Flagler County?  Give me a call or fill out the Seller Form Here.

Robert "Bobby" Keith

386-793-1426

2016 Q4 (October - December) Palm Coast / Flagler County Saltwater Canal Homes Sales Report

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Flagler County Saltwater Canal Home Sales Report Summary - October - December 2016

In the last Quarter of 2016 (October - December), a total of 50 homes on the Saltwater Canal sold in Flagler County.  The average sales price for last Quarter's Saltwater Canal Homes was $336,454 while the average days on market was 96 days in Flagler County.

The top home sale of the Quarter was 36 Sabal Bend in the Palm Harbor neighborhood of The Sanctuary, selling at $722,300.

The deal of the Quarter was 4 Crosleaf Court East in the Palm Harbor neighborhood of Palm Coast, selling at $145,000.

FLAGLER COUNTY SALTWATER CANAL HOMES SOLD IN q4 2016 AVERAGE SALES PRICE OF $336,454

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Flagler County Saltwater Canal Lot Sales Report Summary

Twelve Saltwater Canal lots sold in Flagler County in Q4 of 2016.  The Average sales price for last quarters Saltwater Canal Lots was $130,690 while the average days on market was 255 days.

FLAGLER COUNTY SALTWATER CANAL LOTS SOLD IN Q4 2016 AVERAGE SALES PRICE OF $130,690

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Thank you for checking out this Quarters Sales Report for the Saltwater Canal Homes in Flagler County.  All info is believed to be true and accurate, but not guaranteed.  The source for the information is from the Flagler County MLS.  This is not intended to be an estimate of any ones home value. 

To get a Free Home Valuation and find out your homes true value, contact

Robert "Bobby" Keith, Realtor 386-793-1426

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Are you looking to purchase a Saltwater Canal Home in Flagler County?  Give me a call at      386-793-1426 or fill out the Buyer Form Here.

Are you looking to sell your Saltwater Canal Home in Flagler County?  Give me a call or fill out the Seller Form Here.

Robert "Bobby" Keith 386-793-1426

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