Florida Single Family Homes December 2018 Market Report
The Florida Single Family Homes Market Report for December 2018 had weaker sales activity when compared to last year. The closed sales result was down by 9.9% (was up by 3.0% in November) and new sales under contract (new pending sales) was down by 9.0% (was down by 8.0% in November).
Prices, though, continue to rise for December. The median and average sales prices up by 4.2% and 3.3% respectively, compared to November’s 6.3% and 5.4%.
The inventory of available homes for sale increased by 13.3% from last year. This is now a 4.0 months supply of inventory as Florida remains in a seller’s market with the advantage for sellers. (December of 2017 had a 3.6 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.