May 21, 2019 – Florida's
housing market reported more sales, higher median prices and increased
inventory (active listings) in April compared to a year ago, according to the
latest housing data released by Florida Realtors®. Sales of
single-family homes statewide totaled 26,992 last month, up 6.2% over April
"Still-low mortgage interest rates and a strong
jobs outlook are positive trends for Florida's housing market,” says
2019 Florida Realtors President Eric Sain,
In April, statewide median sales prices for
both single-family homes and condo-townhouse properties rose year-over-year for
the 88th consecutive month. The statewide median sales
price for single-family existing homes was $259,470, up 2.6% from the previous
year, according to data from Florida Realtors Research Department in
partnership with local Realtor boards/associations. Last month’s statewide
median price for condo-townhouse units was $194,050, up 2.1% over the year-ago
figure. The median is the midpoint; half the homes sold for more, half for
According to the National Association of Realtors (NAR), the
national median sales price for existing single-family homes in March 2019 was
$261,100, up 3.8% from the previous year; the national median existing condo
price was $565,880; in Massachusetts, it was $390,000; in Maryland,
it was $285,000; and in New York, it was $270,000.
Looking at Florida's condo-townhouse market in
April, statewide closed sales totaled 11,817, up 3.2% compared to a year ago.
Closed sales may occur from 30- to 90-plus days after sales contracts are
"April was easily the strongest month we've seen so far this
year for home sales in the Sunshine State," says Florida Realtors Chief
Economist Dr. Brad O'Connor. "Prior to April, single-family closed sales
for 2019 were actually down year-over-year, but with April's little surge (up
6.2%), sales in 2019 are now up by 1% compared to where we were through the
first four months of 2018.
"The statewide inventory of active listings continued to rise
on a year-over-year basis in April, but the rate of this growth continues to
slow somewhat. As of the end of April, there were about 95,000 single-family
homes listed in Florida's MLSs (Multiple Listing Services) or 6.6% more than
were listed at the same time last year. The total of active listings of condos
and townhouses was closer to about 58,500, up 6.4% compared to last year."
According to Freddie Mac, the interest rate
for a 30-year fixed-rate mortgage averaged 4.47 percent in April 2019, compared
to the 4.14 percent averaged during the same month a year earlier.
To see the full statewide housing activity reports, go to Florida Realtors Research & Statistics section on floridarealtors.org. Realtors also
have access to local market stats (password protected) on Florida Realtors'
© 2019 Florida Realtors®