Florida Single Family Homes November 2022 Market Report
The Florida Single Family Home continues to show weaker sales activity when compared to last year. The inventory numbers are improving, but we are facing headwinds with increasing mortgage rates as well as stubbornly high prices. Closed sales were down by 38.2% (were down by 24.6% in October). New sales under contract (new pending sales) were down by 36.8% (were down by 41.2% in October).
Prices are still going up. The (year-to-year) median sales price rose by 9.6% (it was up by 12.0% in October). And, the average sales price was up by 5.5% (it was up by 13.2% last month).
The inventory of available homes for sale increased by 105.2% from last year. This represents a 2.8 months supply of inventory. Florida remains in a seller’s market with a major advantage for sellers. (November 2021 had a 1.2 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 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.
Florida Single Family Homes November 2022 Market Report
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