Florida Single Family Homes March 2020 Market Report
The Florida Single Family Home sales had stronger closed sales activity for March, but new pending sales are off considerably and I’m afraid this indicates some challenging months to come in this real estate sector. Closed sales were up by 6.4% (were up by 9.1% in February). New sales under contract (new pending sales) were down by 22.6% (were up by 12.5% in February).
Prices were up for March. The median sales price rose by 7.4% (it was up by 8.0% in February). The average sales price was up by 8.9% (it was up by 7.9% last month).
The inventory of available homes for sale decreased by 14.0% from last year. This represents a 3.4 months supply of inventory. Florida remains in a seller’s market with the advantage for sellers. (March 2019 had a 4.2 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.
Recent Florida Market Report Posts:
- Florida Townhouses and Condos October 2024 Market Report
- Florida Single Family Homes October 2024 Market Report
- 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
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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