ORLANDO, Fla. – Jan. 22, 2016 – Florida’s housing market reported higher median prices, fewer days on the market and a tightening inventory in December, according to the latest housing data released by Florida Realtors®. Closed sales of single-family homes statewide totaled 23,056 last month, up 2.9 percent over the December 2014 figure.
“Florida’s housing market continues to show strength,” says 2016 Florida Realtors President Matey H. Veissi, broker and co-owner of Veissi Associates in Miami. “December marked over four years – 49 months – of consecutive gains in statewide median sales prices, year-over-year, for both single-family homes and for townhouse-condo properties. Mortgage rates remain low, which is encouraging many buyers to make their move now to enter the housing market.
“Properties also are taking less time to sell, which is a trend of interest to sellers as well as buyers,” says Veissi. “In December, the median days on market (the midpoint of the number of days it took for a property to sell that month) was 47 days for single-family homes and 49 days for townhouses and condos. That means 50 percent of homes on the market in Florida sell in less than two months.”
The statewide median sales price for single-family existing homes last month was $206,500, up 11.6 percent from the previous year, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. The statewide median price for townhouse-condo properties in December was $156,500, up 5 percent over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.
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