More Inventory, Fewer Sales in Florida’s Housing Market
February 22, 2019
The Florida housing market saw more new listings and higher sales prices in January, according to data from Florida Realtors. However, sales activity slumped last month.
During January, single-family homes statewide totaled 15,526, a 6.2 percent decline from one year ago. Florida's condo-townhouse market recorded 6,739 closed sales in January, a 10.9 percent decline from the previous year. The decline in sales was counterbalanced by more selections for homebuyers: The statewide inventory level for single-family homes grew by 13.8 percent year-over-year, while condo-townhouse inventory listing rose 10.1 percent over the same period and reached their highest level since May 2012.
During January, Florida’s median sales prices for both single-family homes and condo-townhouse properties recorded year-over-year gains for the 85th month-in-a-row. The statewide median sales price for single-family existing homes was $249,900, up 4.1 percent from the previous year, and the statewide median price for condo-townhouse units was $182,500, up 2.8 percent from January 2018.
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