Overview
- Florida reported continued gains in July with existing single-family closed sales up 5.1% and condo-townhouse closed sales up 11% compared with a year earlier.
- Statewide totals in July were about 23,870 closed single-family sales and 8,194 closed condo-townhouse sales, figures that reflect contracts written weeks to months earlier.
- New pending sales rose for the twelfth straight month for single-family homes and climbed for condos, while single-family inventory fell about 13.5% and months’ supply stood at 4.5 for single-family and 7.8 for condos.
- The statewide single-family median price rose to $425,000, up 3.7% year over year, while the condo-townhouse median held steady at $295,000 as the condo market absorbs earlier regulatory, assessment, and insurance shocks.
- Analysts say the pattern matters because buyers are returning without a big drop in borrowing costs, which could tighten negotiations in local markets and keep sales momentum if pending-contract trends continue.