Price Trendsįlorida Realtors Chief Economist Dr. Closed sales may occur from 30- to 90-plus days after sales contracts are written.
Last month, closed sales of existing single-family homes statewide totaled 22,198, down 6.4% year-over-year, while existing condo-townhouse sales totaled 8,463, down 9.4% from July 2022, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. He added, “However, more active listings would mean a wider selection of homes and more options for buyers, which could help moderate the pace of rising prices and ease affordability issues.” Sales Data McGraw emphasized that in recent months, they’ve seen active listings start to increase and inventory levels improving, though still below what would be considered a balanced market. Mike McGraw, a broker-associate with RE/MAX Central Realty in Orlando, stated, “Buyers and sellers in Florida continue to be challenged by higher mortgage rates, which have been fluctuating around 7%.” The Impact of Mortgage RatesĢ023 Florida Realtors® President G. In July, Florida’s housing market reported improving inventory levels (active listings) and statewide median sales prices consistent with values of a year ago, according to Florida Realtors®’ latest housing data. Condo median price at $319K, 3.6 months’ supply. Higher mortgage rates are still a factor the single-family home median price at $415K, 2.8 months’ supply. The Florida housing market for July 2023. As the year progresses, the housing market may continue to adjust to the changing landscape, offering more options for both buyers and sellers. While there have been challenges, there are signs of improvement with increasing inventory levels and moderated price growth. Florida's housing market continues to be influenced by fluctuating mortgage rates. The Florida housing market experienced changes in inventory and median sales prices in July, according to the latest data from Florida Realtors®. 20 Cheapest States to Buy a House in 2023.Best Side Hustles from Home to Make Money in 2023.
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