Closed sales of single-family homes in Florida totaled 14,851 in January, up 0.6% year-over-year, while existing condo-townhouse sales totaled 6,008, down 1.2% from last year, according to data from the Florida Realtors Research Department.
During January, Florida’s median sales price for single-family existing homes was $405,000, up 3.8% from the previous year. For condo-townhouse units, the median sales price was $320,000, up 3.2% year-over-year.
“While sales and prices remained fairly similar compared to a year ago, we saw significantly more new listings this January,” said Florida Realtors Chief Economist Dr. Brad O’Connor. “New listings of single-family homes were up 16.7% year over year, while new listings of townhouses and condos were up by 31.4%. This is a continuation of a trend we’ve seen over the past few months, and it mostly has to do with abnormally low numbers of new listings in late 2022 and early 2023, mostly due to how fast mortgage rates were rising at that time.”
O’Connor added last month’s new listings were in line with pre-pandemic levels in January 2019 and January 2020.
“That’s great news for prospective homebuyers who have been looking for more variety in the market,” he said. “Affordability remains a challenge, but the extra inventory we have now should help to keep further price growth in check for the time being.”
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