Florida Median Housing Prices Continue to Rise Through December 2016

Florida's housing market had higher median prices and fewer all-cash sales in December 2016, according to the latest housing data released by Florida Realtors®. Statewide, sales of single-family homes totaled 22,332 during the period, up 0.8 percent year-over-year. Additionally, home sellers were able to get closer to their original asking price, as sellers of existing single-family homes we able to close close to 96% of their original list price. The statewide median sales price for single-family existing homes was $226,000, which was up 9.2% year-over-year. Even townhouses and condos were strong, with sales closing within 94.7% of original list price. The median price for townhouse-condo properties was $166,900, up 7.7% year-over-year. Townhouse-condo sales statewide in December totaled 8,673 closed sales, down 5.2% from last year. There were both fewer short sales and cash-only sales and most closings occurred within 30 to 90 days from initial signed contract. The state of Florida currently has seen a dip to 3.9-month's supply of single-family homes in December and a 6-month supply for townhouse-condos. Florida housing prices for both single-family homes and townhouse-condo properties have risen for 61 straight months.