Florida Housing Market Seeing Higher Inventory Up, Rising Median Prices
However, O’Connor pointed out, that “part of the reason September’s year-over-year declines in closed sales are high is that during the pandemic years of 2020 and 2021, the Florida real estate market didn’t get the memo that the second half of the year is supposed to be our slow time for closed sales. Statewide inventory was higher last month than a year ago for both existing single-family homes, up 74.9 percent, and for condo-townhouse units, up 18 percent, even though some active listings likely were pulled off-market temporarily due to the hurricane, according to O’Connor. While time to contract is lengthening, homes in Florida continue to go under contract quickly: The median time to contract for single-family existing homes in September was 22 days compared to 10 days during the same month a year ago.
