September was a good month for Florida Real Estate, despite the pandemic. Florida’s housing market reported 22% more closed sales of single-family homes and more than a 25% increase in sales for condo-towhouses. Besides closed sales, the market reported more pending sales, rising median prices and a considerable increase in new listings as well, compared to the the same period in 2019. The data was provided by Florida Realtors.
Florida’s median prices for single-family homes in September 2020 was $300 k. More than 13% compared to the same month in 2019, according to the report. In regard to condo-townhouses the median price was $ 217,500, which means an increase of 12.7%.
The numbers are more impressive when we compare year-over-year indicators for pending sales. Single-family homes pending sales had a huge increase of more than 30% and condos and townhouses were up amazing 43%.
New listings had an increase of 12.1% for single-family homes and 21.1% for condo and townhouse units.
The housing sector has been a good contributor for the state’s economy rebound. And it looks like this positive scenario for the housing market in Florida will remain for a while. Mortgage interest rates will probably stay low.
Despite the many motivated buyers, most coming from northern states, there is a lack of inventory. This low for-sale inventory put pressure o prices and does not help new buyers to find their ideal home.
Read More at FLORIDA DAILY: https://www.floridadaily.com/florida-real-estate-enjoyed-a-strong-september-with-sales-and-prices-on-the-rise/