Florida Single Family Homes June 2018 Market Report
The Florida Single Family Homes June 2018 Market Report showed weaker activity when compared to last year but remains very active. Closed sales were down by 1.3% (were up by 0.8% in May) and new sales under contract (new pending sales) were down by 3.3% (were down by 0.1% in May).
Prices are still going up though. The median and average sales prices up by 6.1% and 7.7% respectively, compared to May’s 6.7% and 6.5%.
The inventory of available homes for sale fell by 1.1% from last year. For June there was a 3.9 months supply of inventory as Florida remains in a seller’s market with the advantage for sellers. (June of 2017 also had a 3.9 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.