Both Inventory And Median Home Prices Up Throughout Florida During 1Q 2018

Florida saw a slight uptick in new listings and also in the overall median home price over the first quarter of 2018, according to new data from the Florida Association of Realtors. 

Over the first few months of 2018, the median price for both existing single-family homes and also for condos and townhouses climbed, which is actually a trend that isn’t new for most of Florida. 

For existing single-family homes specifically, the statewide median sales price jumped 9.7 percent year-over-year to $248,000, while condo-townhouse listings saw a similar spike of 7.8 percent to $180,000. 

As mentioned, the number of new listings for single-family residences increased by just over 1 percent, while the number of new condo-townhouse listings jumped by 2.9 percent over the first quarter. 

Also noted in the report is that Florida’s population continues to rise, and the job market and overall economy remains strong, keeping market conditions favorable heading into the summer season.