In good news for potential buyers, Florida’s September housing market continued to show improving inventory levels (active listings) and flat to slightly lower median prices compared to a year ago, according to Florida Realtors®’ latest housing data.
Hurricane Helene did disrupt Florida’s housing market for at least six of the 20 business days in the short month, according to Florida Realtors Florida Realtors Chief Economist Dr. Brad O’Connor. Furthermore, housing demand in Florida and across much of the U.S. has remained relatively weak for much of 2024.
September closed sales of existing single-family homes statewide totaled 18,721, down 12.3% year-over-year; and existing condo sales totaled 6,655, down 20.7% versus September 2023. While pending sales of single-family homes in September were actually up year-over-year by 1.9%, on the condo side new pending sales declined 16.3%.
The statewide median sales price for single-family existing homes in September was about the same (up 0.2%) from one year earlier. Yet, for condo units, the median price was down 3.4% from September 2023.
On the supply side of the market, Florida still had only a 4.6-month supply of single-family existing homes in September, which was up 43.8% year-over-year. However, for condo units, Florida had a more balanced 7.4-month supply, up 80.5% year-over-year.