Florida Single Family Homes May 2018 Market Report
The Florida Single Family Homes May 2018 Market Report showed good activity when compared to last year and remains a very active market though at a bit of a reduced rate. Closed sales were up by 0.8% (were up by 4.1% in April) and new sales under contract (new pending sales) were down by 0.1% (were down by 0.2% in April).
Prices continue with their upward April for May. The median and average sales prices up by 6.7% and 6.5% respectively, compared to April’s 8.1% and 10.4%.
The inventory of available homes for sale fell by 0.7% from last year. For May there was a 4.0 months supply of inventory as Florida remains in a seller’s market with the advantage for sellers. (May of 2017 had a 4.0 month supply) A balanced market favoring neither buyers or sellers is considered to be one with a 6 to 7 month supply of inventory. Inventory continues to decrease which is putting pressure on rising prices and lower sales volume.
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Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.