ORLANDO, Fla. – Florida Realtors advised that the houses for sale became limited in number, and the average cost increased in the housing market.

Maria Wells, President of Maria Florida Realtors, indicated the rapid growth of the state’s economy. She stated that this has affected the advancement of the housing sector and has created more job opportunities.

The trouble right now is that the housing market is not enough to cater to the demand required by buyers. Officials state that if an individual is eyeing on selling a property, right now is a good moment. Sellers have the chance of reaching their desired price and some even receive more than their price due to excessive demands from bidders.

Florida Realtors advised house sellers to take their chance while it lasts and to contact their own realtor to arrange the process. The same advice goes to home buyers. They must work closely with their realtors regarding their desires and budget.

According to the data released by Florida Realtors together with other research associations, the average price of a single-family house increased 12.5 % from last year, amounting to $225,000. For condo type and townhouse properties, the average price increase in the housing market is 11.7% from last year, amounting to $167,500.

The market sale for single-family house type mirrors that of last year, mainly because of the lack of properties auctioned out. Nonetheless, Dr. Brad O’Connor, a chief economist, still views this standing as heathy.

On the other hand, the market sale for condo types and townhouses stands in a good position at the beginning of this year. The trade sale peaked an increase of 4.1 %.

Currently, the inventory of single-family houses remains at 4.2 months supply and 6.4 months supply for condo types and townhouses. Meanwhile, the average rate for the number of houses that people own with a 30-year interest rate through a fixed rate mortgage stands at 4.17%.