Closed sales of existing single-family homes across Florida totaled 17,095 in November, down 3.5% year-over-year, while existing condo-townhouse sales in the Sunshine State totaled 6,002, down 15.6% year-over-year.
According to data from Florida Realtors, the statewide median sales price for single-family existing homes in November was $410,700, down 0.6% from $413,000 one year earlier. For condo-townhouse units, the median price was $311,000, down 5.8% from $330,000 in November 2023.
On the supply side of the market, Florida had a 4.8-month supply of single-family existing homes last month, up 29.7% year-over-year. For condo-townhouse units, the state had an 8.2-month supply in November, up 64% year-over-year.
“The story for November is the post-hurricane rebound for new listings and new pending sales,” said Florida Realtors Chief Economist Dr. Brad O’Connor. “New pending sales were up strongly year-over-year for single-family homes – up 12.6% – after falling by 8% in October. That increase, 12.6%, is the most year-over-year growth we’ve seen since April 2021, which was up 64% at that time, because we were comparing it to early in the pandemic in April 2020.”
“However, on a cautionary note, I think this is mostly a post-hurricane rebound, with market activity that would otherwise have occurred in October being pushed into November,” he said. “But if there’s real momentum here, it may show up in the December figures.”
