Positive trends remain for Florida housing market

Realtors reported increased sales, listings, prices in August

Positive trends remain for Florida housing market

Florida Realtors have reported the continuation of some positive trends in August.

Sales of single-family homes increased 4.2% year-over-year to 26,273 while the median price of single-family homes was up 6% year-over-year to $254,290.

The median prices for condo-townhouse units also increased – by 8.8% to $185,000 – and closed sales totaled 10,365 last month, up 6.6% compared to a year ago.

Homebuyers also found a wider selection of homes available to buy, the second consecutive month of rising listings.

"New listings for existing single-family homes rose 6.6% compared to a year ago and new listings for condo-townhouse properties increased 4.1% from last August,” said 2018 Florida Realtors President Christine Hansen. "At the same time, the median time for a sale to go to contract is getting shorter: For single-family homes, it was 36 days, down 2.7%; for condo-townhouse properties, it was 46 days, down 6.1%."

Closed sales data continued to reflect fewer short sales and foreclosures in August: Short sales for condo-townhouse properties dropped 18.8 percent and foreclosures fell 28.9% year-to-year; while short sales for single-family homes declined 34.2% and foreclosures fell 30.1% year-to-year. Closed sales may occur from 30- to 90-plus days after sales contracts are written.