FL's Housing Market Shows Positive Trends in Sept.


Sept. statewide single-family home sales rose 11.5% year-to-year, and the median price rose 5.3% to $256K. Condo sales rose 6.1%; median price up 5.8% to $193K.

Photo courtesy of Adeolu Eletu on Unsplash

ORLANDO, Fla. – During September, Florida’s housing market reported more closed sales, higher median prices and increased pending inventory compared to a year ago, according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 23,510 last month, up 11.5% from September 2018.

“Mortgage rates that remain historically low and strong economic trends continue to help fuel Florida’s housing market,” says 2019 Florida Realtors President Eric Sain, a Realtor and district sales manager with Illustrated Properties in Palm Beach. “In another positive sign, pending inventory for existing single-family homes was up 1.7% year-over-year, while pending inventory for existing condo-townhouse properties was up 0.9%.

“Staying on top of trends in local housing markets can be challenging for buyers and sellers – turning to a local Realtor for expert guidance can ease stress and help with peace of mind.”

Pending inventory is the number of listed properties under contract at the end of the month or data collection period.

Statewide median sales prices for both single-family homes and condo-townhouse properties have risen year-over-year for 93 consecutive months.

The statewide median sales price for single-family existing homes was $265,000, up 5.3% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last month’s statewide median price for condo-townhouse units was $193,000, up 5.8% over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.

According to the National Association of Realtors® (NAR), the national median sales price for existing single-family homes in August 2019 was $280,700, up 4.7% from the previous year; the national median existing condo price was $257,600. In California, the statewide median sales price for single-family existing homes in August was $617,410; in Massachusetts, it was $430,000; in Maryland, it was $310,000; and in New York, it was $296,900.