Florida Single Family Homes April 2020 Market Report

Florida Single Family Homes April 2020 Market Report

The Florida Single Family Home market is now showing the effects of the current pandemic. Both closed and pending sales are down for the month when compared to last year. Closed sales were down by 20.7% (were up by 6.4% in March). New sales under contract (new pending sales) were down by 35.1% (were down by 22.6% in February).

Prices, however, were up for April.  The median sales price rose by 6.0% (it was up by 7.4% in March). The average sales price was up by 3.0% (it was up by 8.9% last month).

The inventory of available homes for sale decreased by 26.5% from last year.  This represents a 3.4 months supply of inventory. Florida remains in a seller’s market with the advantage for sellers. (April 2019 had a 4.1 months supply)  A balanced market favoring neither buyers or sellers is considered to be one with a 6 to 7 month supply of inventory. 

Previous Florida real estate market report posts.

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To view the latest set of reports from Florida Realtors for the state of Florida, Martin County, and Saint Lucie County, please visit GabeSanders.com and select Market Data.

Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.

Florida Single Family Homes April 2020 Market Report

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