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Closed sales of existing single-family homes in Florida last month totaled 23,334, a 17.2% year-over-year decline, according to new data from Florida Realtors. Existing condo-townhouse sales totaled 10,040, a 26.8% slide from April 2022.

The statewide median sales price for single-family existing homes in April was $410,000, unchanged from one year earlier, while the statewide median price for condo-townhouse units was $325,000, up 4.8% year-over-year.

On the supply side of the market, inventory levels rose last month with single-family existing homes at a 2.6-months’ supply and condo-townhouse inventory at a 3.5-months’ supply.

“More active listings spark buyers’ interest and provide more homeownership opportunities,” said 2023 Florida Realtors President G. Mike McGraw, a broker-associate with RE/MAX Central Realty in Orlando. “In time, having more available inventory could ease the pressure of rising prices; however, Florida’s current for-sale supply is still constrained as cautious buyers and sellers remain wary of higher mortgage interest rates.”