According to new data from the Florida REALTORS®, the state’s housing market continued the same trends as previous months with more closed sales, higher median prices and more new listings compared to last year.
By the numbers:
– Single-family closings in June totaled 34,165, up 23.6% YoY
– Existing condo-townhouse sales totaled 16,155, up 79.6% YoY
– Median sales price for single-family existing homes in June was $351,000, up 24.5% YoY
– Median price for condo-townhouse units was $256,945, up 22.4% YoY
What Florida REALTORS® is saying:
The market may be balancing, with the ratio of buyers to sellers evening out a bit. Additionally, all-cash offers are occurring at higher rates than in past years.
“Coming out of a record spring home-buying season, the state’s housing market continued its strong gains in June,” said 2021 Florida REALTORS® President Cheryl Lambert, broker/owner with Only Way Realty Citrus in Inverness. “Of course, the impact of the pandemic last June is still a factor to consider when looking at the comparison data. In a positive sign, new listings for single-family existing homes in June rose 21.6% year-over-year, while new listings for condos-townhouse properties increased 10%. However, while Florida REALTORS®’ data shows that new listings have remained at fairly typical numbers even throughout most of the pandemic, it hasn’t been at the levels needed to keep up with greater buyer demand.”
“Florida’s red-hot rate of home price growth” could begin to cool down somewhat in the coming months, although that will also depend on whether interest rates start to trend higher again, as well. For now, though, the numbers continue to astound,” he added.