Florida Single Family Homes May 2022 Market Report

Florida Single Family Homes May 2022 Market Report

The Florida Single Family Home market activity had lower sales volume compared to last May.  We remain in a market with low inventory (though that is beginning to change) as well as rising interest rates that are significantly affecting the real estate market.  Inventory rose slightly this month, so maybe we are in the very beginnings of a turn-around in the market. Closed sales were down by 6.9% (were down by 15.3% in April). New sales under contract (new pending sales) were down by 13.1% (were down by 13.9% in April).

Prices are still going up.  The median sales price rose by 21.8% (it was up by 21.8% in April). And, the average sales price was up by 15.6% (it was up by 12.8% last month).

The inventory of available homes for sale increased by 31.5% from last year.  This represents only a 1.4 months supply of inventory. Florida remains in a seller’s market with a major advantage for sellers. (May 2021 had a 1.1 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.

Florida Single Family Homes May 2022 Market Report

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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 May 2022 Market Report

 

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