Florida’s housing market reported rising median prices, fewer all-cash closed sales and a tight inventory of for-sale homes in January, according to the latest housing data released by Florida Realtors. Closed sales of single-family homes statewide totaled 16,529 last month, up 2.7 percent over the January 2015 figure.
“Florida’s housing market remains on a steady path,” said 2016 Florida Realtors President Matey H. Veissi, “While inventory levels are tight, the months’ supply of homes for sale remains stable and distressed property sales continue to fall. The current market offers a great opportunity for sellers, who are getting nearly 94 percent of their asking price at the closing table; existing townhouse-condo sellers are getting more than 93 percent of their asking price. And while mortgage rates are inching higher, they remain historically low, which gives consumers more buying power.”
The statewide median sales price for single-family existing homes last month was $199,000, up 13.7 percent from the previous year, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. The statewide median price for townhouse-condo properties in January was $152,000, up 10.9 percent over the year-ago figure.
January marked the 50th month in a row that statewide median sales prices for both single-family homes and for townhouse-condo properties rose year-over-year. The median is the midpoint; half the homes sold for more, half for less.
According to the National Association of Realtors, the national median sales price for existing single-family homes in December 2015 was $226,000, up 8 percent from the previous year; the national median existing condo price was $209,900. In California, the statewide median sales price for single-family existing homes in December was $489,310; in Massachusetts, it was $345,000; in Maryland, it was $260,453; and in New York, it was $240,760.