Realtors reported increased sales, listings, prices in August
Florida Realtors have reported the continuation of some positive trends in August.
Sales of single-family homes increased 4.2% year-over-year to 26,273 while the median price of single-family homes was up 6% year-over-year to $254,290.
The median prices for condo-townhouse units also increased – by 8.8% to $185,000 – and closed sales totaled 10,365 last month, up 6.6% compared to a year ago.
Homebuyers also found a wider selection of homes available to buy, the second consecutive month of rising listings.
"New listings for existing single-family homes rose 6.6% compared to a year ago and new listings for condo-townhouse properties increased 4.1% from last August,” said 2018 Florida Realtors President Christine Hansen. "At the same time, the median time for a sale to go to contract is getting shorter: For single-family homes, it was 36 days, down 2.7%; for condo-townhouse properties, it was 46 days, down 6.1%."
Closed sales data continued to reflect fewer short sales and foreclosures in August: Short sales for condo-townhouse properties dropped 18.8 percent and foreclosures fell 28.9% year-to-year; while short sales for single-family homes declined 34.2% and foreclosures fell 30.1% year-to-year. Closed sales may occur from 30- to 90-plus days after sales contracts are written.
