Florida Single Family Homes October 2022 Market Report

Florida Single Family Homes October 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 24.6% (were down by 29.0% in September). New sales under contract (new pending sales) were down by 41.2% (were down by 32.0% in September).

Prices are still going up.  The (year-to-year) median sales price rose by 12.0% (it was up by 13.8% in September). And, the average sales price was up by 13.2% (it was up by 9.6% last month).

The inventory of available homes for sale increased by 88.4% from last year.  This represents a 2.7 months supply of inventory. Florida remains in a seller’s market with a major advantage for sellers. (October 2021 had a 1.3 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 October 2022 Market Report
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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 October 2022 Market Report

 

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