August Housing Market: Median Prices Rise Year on Year

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Florida’s statewide median sales price for single-family existing homes in August was $415,000, up 2% from the same month a year ago, while the statewide median price for condo-townhouse units was $324,000, up 6.2% over the August 2022 figure. The median is the midpoint; half the homes sold for more, half for less.

“Prospective buyers continue to be drawn to Florida’s lifestyle, climate and job opportunities. Persistently higher mortgage rates and a restricted for-sale inventory are hampering sales activity. However, as our housing prices continue to stabilize and interest rates hopefully moderate, we expect conditions to return to a more balanced market with more options for buyers and sellers.”

On the supply side of the market, single-family existing homes ticked up slightly to reach a 3-months’ supply in August while condo-townhouse properties rose to a 3.8-months’ supply.

To see the full statewide housing activity reports, go to Florida Realtors
© 2023 Florida Realtors®

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  • Andrew Oliver, M.B.E., M.B.A.
    Real Estate Advisor
    Andrew.Oliver@Compass.com
  • AndrewOliverRealtor.com

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