Florida Single Family Homes March 2023 Market Report
The Florida Single Family Home continues to show weaker sales activity when compared to last year. The inventory numbers are growing, but we are facing headwinds with increasing mortgage rates and other economic uncertainties. Closed sales were down by 15.0% (were down by 21.3% in February). New sales under contract (new pending sales) were down by 12.0% (were down by 11.6% in February).
Prices were mixed for March. The (year-to-year) median sales price rose by 2.1% (it was up by 3.5% in February). And, the average sales price was down by 2.1% (it was down by 1.8% last month).
The inventory of available homes for sale increased by 115.8% from last year. This represents a 2.7 months supply of inventory. Florida remains in a seller’s market with the advantage to sellers. (March 2021 had a 1.0 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.
Recent Florida Market Report Posts:
- Florida Townhouses and Condos March 2024 Market Report
- Florida Single Family Homes March 2024 Market Report
- Florida Townhouses and Condos February 2024 Market Report
- Florida Single Family Homes February 2024 Market Report
- Florida Townhouses and Condos January 2024 Market Report
- Florida Single Family Homes January 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 March 2023 Market Report
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