Florida’s housing market closed 2023 with 257,679 sales of existing single-family homes, down 10.3% from 2022, according to data from Florida Realtors. For existing condo-townhouses, a total of 105,411 units sold statewide in 2023, down 16% compared to 2022.
For December, closed sales of single-family homes statewide totaled 18,423, down 3.8% from December 2022, while existing condo-townhouse sales totaled 7,202, down 6.2% year-over-year.
Also in December, the statewide median sales price for single-family existing homes was $410,000, up 3.8% from one year earlier, while the statewide median price for condo-townhouse units was $330,000, up 6.5% over the year-ago figure.
The statewide median sales price for single-family existing homes at year’s end was $410,000, up 1.9% from the previous year. The statewide median price for condo-townhouse properties at the end of the year was $322,500, up 5.2% from the previous year.
“Like the rest of the country, Florida remained mired in a housing shortage throughout 2023, although inventory (active listings) levels at the end of the year were higher than where they started by 17.8% for single-family homes and 52.6% for condos and townhouses,” Florida Realtors Chief Economist Dr. Brad O’Connor. “However, inventory remains below pre-pandemic levels and while the balance has shifted somewhat toward buyers as of late, we solidly remain in seller’s market territory.”
O’Connor added that “the amount of housing supply remains too limited and the demand for housing in Florida remains too strong to support any sort of significant home price correction any time soon.”
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