Florida’s Housing Market: New Listings, Inventory Rise in November 2024 In November, Florida’s housing market had more new listings and higher inventory levels (active listings) compared to a year ago, while statewide median sales prices continued to ease, according to Florida Realtors®’ latest housing data. “Homebuyers who have been waiting on the sidelines are seeing more opportunities now and more for-sale options available,” said 2024 Florida Realtors President Gia Arvin, broker-owner with Matchmaker Realty in Gainesville. “New listings were up 7.2% for existing single-family homes year-over-year while new listings for condo-townhouse units were up 5.4% – this is encouraging news for buyers. Home prices are easing, and it appears mortgage interest rates continue to hover at levels lower than they were a year ago, which increases affordability.” Last month, closed sales of existing single-family homes statewide totaled 17,095, down 3.5% year-over-year; existing condo-townhouse sales totaled 6,002, down 15.6% over November 2023, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. 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. The median is the midpoint; half the homes sold for more, half for less. According to Florida Realtors Chief Economist Dr. Brad O’Connor, “The story for November is the post-hurricane rebound for new listings and new pending sales. New pending sales were up strongly year-over-year for single-family homes (+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 +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.” 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. Novemberr 2024 market data reports. Click on the following links for more information. Single-family data detail Single-family summary Hillsborough County Stats Pasco County Stats Condo data detail Condo summary MSA summary Contact me today for the SunStats the Most Powerful Real Estate Market Research for the location your interested in. The December 2024 Housing Market Report will be published on this website on or about January 24, 2025

Florida’s Housing Market: Inventory Shows Gains, Prices Ease in October 2024 Florida’s housing market in October reported higher inventory levels (active listings) and easing statewide median prices compared to a year ago, according to Florida Realtors®’ latest housing data. “With more inventory available now and home price increases slowing, it’s a positive sign for homebuyers, who are seeing more opportunities to enter the market,” said 2024 Florida Realtors President Gia Arvin, broker-owner with Matchmaker Realty in Gainesville. “Mortgage interest rates are lower than they were a year ago, too, which helps boost affordability.” Last month, closed sales of existing single-family homes statewide totaled 18,671, down 5.6% year-over-year; existing condo-townhouse sales totaled 6,499, down 19.9% over October 2023, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. The statewide median sales price for single-family existing homes in October was $415,000, up 1.2% from $410,000 one year earlier. For condo-townhouse units, the median price was $315,000, down 2.2% from $321,990 in October 2023. The median is the midpoint; half the homes sold for more, half for less. According to Florida Realtors Chief Economist Dr. Brad O’Connor, Hurricane Milton caused significant coastal damage in Florida, from Tampa Bay down well to the south along the Gulf Coast. While inland areas were spared from catastrophic winds due to Milton’s weakening ahead of making landfall on Oct. 9, the storm still caused widespread power outages throughout the western I-4 corridor, including in the Orlando area. “Along with a renewed strengthening of the mortgage rate lock-in effect, Hurricanes Milton and Helene likely had a bigger impact on new listings of homes for sale in October,” O’Connor said. “New listings of single-family homes fell by 10.3% year-over-year but were still up 9.5% for the year to date. Meanwhile, new listings of townhouses and condos, were down 9.5% compared to a year ago, but were up 12% for the year. “While the rate of new listings coming onto the market was already slowing ahead of the storms, the year-over-year declines in October were a sizeable jump – and very likely, related to the unique pattern of events that unfolded throughout the month.” On the supply side of the market, Florida had a 4.7-month supply of single-family existing homes last month, up 34.3% year-over-year. For condo-townhouse units, the state had a 7.7-month supply in October, up 67.4% year-over-year. October 2024 market data reports. Click on the following links for more information. Single-family data detail Single-family summary Condo data detail Condo summary MSA summary Contact me today for the SunStats the Most Powerful Real Estate Market Research for the location your interested in. November 2024 Market Report