Florida Single Family Homes December 2019 Market Report
The Florida Single Family Home sales had a very strong end to 2019. Closed sales were up by 23.8% (were up by 6.1 % in November). New sales under contract (new pending sales) were up by 11.9% (were up by 14.4 % in November).
Prices were also up for December. The median sales price rose by 5.9% (it was up by 3.9 % in November). The average sales price was up by 6.9% (it was up by 13.1 % last month).
The inventory of available homes for sale decreased by 11.4% from last year. This represents a 3.4 months supply of inventory as Florida remains in a seller’s market with the advantage for sellers. (December 2018 had a 4.0 months supply) A balanced market favoring neither buyers or sellers is considered to be one with a 6 to 7 month supply of inventory. Inventory continues to decrease which is putting pressure on rising prices and lower sales volume.
Currently, Florida has a shortage of inventory of homes for sale. Affordable homes are the most scarce in the state at this time and builders are not in a position to alleviate this shortage. At least, any time soon.
Click here to view the previous Florida single-family homes market reports.
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.
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