Palm Coast Single Family Home Inventory Dips Below 850

A year ago the University of Florida did a study of housing trends in Flagler County. At the time they were projecting a housing shortage in Palm Coast by the end of 2012 in early 2013. Quite frankly I found that possibility difficult to imagine. But I think it is time that we consider it a legitimate possibility. This morning I was taking look at some of our local housing statistics. The first very noticeable thing is that the number of single family homes for sale in Palm Coast now stands 844. When I first began selling home in Palm Coast in 2007 there were over 3,000 home for sale. One of the specialty market I follow most closely at waterfront homes. The current inventory of salt water canal homes in Palm Coast now stands at 89. This is down from 150 just two years ago.

What does this mean for home buyers today? I still don't believe that you are at great risk of the market running away from you because as prices start to increase even slightly owners who are currently on the sidelines are likely to become sellers. However, selection of available homes will become tighter and it is going to become increasingly difficult to find the home with all the features that you want.