Florida Single Family Homes July 2024 Market Report

Florida Single Family Homes July 2024 Market Report

The Florida Single Family Home real estate market had slightly stronger sales activity when compared to last year. We continue to face headwinds with many economic uncertainties and high mortgage rates. Closed sales were up by 5.2% (were down by 11.1% in June). New sales under contract (new pending sales) were down by 0.6% (were down by 2.3% in June).

Prices increased slightly for July when compared to last year.  The (year-to-year) median sales price was up by 0.5% (it was up by 1.7% in June). And, the average sales price was up by 2.2% (it was up by 4.7% last month).

The inventory of available homes for sale increased by 59.4% from last year.  This represents a 4.6-month supply of inventory (July 2023 had a 2.8-month supply). Florida remains in a seller’s market with the advantage to sellers. A balanced market favoring neither buyers nor sellers is considered one with a 6 to 7-month supply of inventory. 

Please click on the image or link below to download the full Florida single-family real estate market report.

Previous Florida real estate market report posts.

Florida Single Family Homes July 2024 Market Report
Recent Florida Market Report Posts:

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 July 2024 Market Report

 

Leave a Reply