Florida Single Family Homes August 2022 Market Report
The Florida Single Family Home market activity had lower sales volume compared to last August. While the historically low inventory is slowly improving (though still low), we are also facing rising interest rates and higher prices. I expect inventory to continue to increase which will exert downward pressure on prices and hopefully an increase in sales. Though, this will take some time. (Don’t ask me how long!) Closed sales were down by 15.8% (were down by 22.9% in July). New sales under contract (new pending sales) were down by 18.0% (were down by 19.2% in July).
Prices are still going up. The median sales price rose by 15.0% (it was up by 16.1% in July). And, the average sales price was up by 11.0% (it was up by 12.0% last month).
The inventory of available homes for sale increased by 70.4% from last year. This represents a 2.4 months supply of inventory. Florida remains in a seller’s market with a major advantage for sellers. (August 2021 had a 1.3 months supply) A balanced market favoring neither buyers nor sellers is considered to be one with a 6 to 7 month supply of inventory.
Previous Florida real estate market report posts.
Click here to view the full report!
Recent Florida Market Report Posts:
- Florida Townhouses and Condos 2024 3rd Quarter Report
- Florida Single Family Homes 2024 3rd Quarter Report
- Florida Townhouses and Condos September 2024 Market Report
- Florida Single Family Homes September 2024 Market Report
- Florida Townhouses and Condos August 2024 Market Report
- Florida Single Family Homes August 2024 Market Report
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 August 2022 Market Report
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