Florida Real Estate Market Update – June
Strong buyer demand, fueled by low mortgage rates, continues to outpace supply, which remains near historic lows. Statewide, inventory remains much lower than it was at this time last year, and sales prices are surging as a result.
Speed of the Market
Speed of the market: 85.9% – Based on sales-to-active listing ratio.
Home Sales
There were 51,981 sales in June:
- 37.6% increase compared to June 2020. Total sales also increased by 8.2% compared to last month.
Listings
There were 52,007 new listings in June:
Both the listings and sales activity have increased, resulting in an upward trend in prices.
- 18.3% increase compared to June 2020.
Total Dollar Volume (In Billion)
The total dollar volume equaled 22.4 billion dollars.
- That is a 83.4% increase compared to June 2020. Total dollar volume also surpassed last month’s level by 8%.
Sinlge Family Home Highlights
34,165 single-family homes were sold in June:
- Sales surpassed last year’s level by 23.6%
The average price was $522,825:
- Average prices surpassed last year’s level by 36%.
Townhouse / Condo Highlights
16,155 townhouses were sold in June:
- Sales nicreased by 79,6% compared to last year.
The average price was $390,983:
- Average prices increased by 35.5% compared to last year.
Manufactured Home Highlights
1,661 homes were sold in June:
- Sales went up by 47.9% compared to last year.
The average price was $142,986:
- Prices increased by 26.1% compared to last year.