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Florida Realtors data: But for-sale inventory rose and median sales prices up year-over-year. Single-family homes up 15.7% to $402,500; condos up 21.6% to $306,500.<\/span><\/span><\/span><\/span><\/p>\n<\/div>\n ORLANDO, Fla.<\/span> <\/strong>\u2013 As 2022 ended, Florida\u2019s housing market looked similar to the more traditional market years prior to the pandemic in terms of total closed sales, though it fell short in the year-to-year compared to the unusually strong 2021 sales. The statewide inventory of for-sale existing homes and condo properties showed gains while statewide median sales prices continued to rise year-over-year, despite headwinds from inflation and higher interest rates, according to the latest housing data released by Florida Realtors<\/span>\u00ae<\/span><\/span><\/span><\/span><\/span>. <\/em><\/span><\/span><\/span><\/p>\n Florida Realtors<\/span>\u00ae<\/span><\/span><\/span><\/span><\/span>\u00a0Chief Economist Dr. Brad O\u2019Connor pointed out that in 2021, Florida\u2019s housing market was \u201con a sugar high. Overall, closed sales in 2022 were pretty good when you look at the more \u2018traditional\u2019 housing market years of 2018 and 2019.\u201d<\/span><\/span><\/span><\/p>\n At the end of 2022, statewide closed sales of existing single-family homes totaled 287,352, down 18% compared to the 2021 year-end level, according to data from Florida Realtors\u2019 research department in partnership with local Realtor boards\/associations. <\/span>Closed sales may occur from 30- to 90-plus days after sales contracts are written.<\/span><\/span><\/p>\n The statewide median sales price for single-family existing homes at year\u2019s end was $402,500, up 15.7% from the previous year. <\/span>The median is the midpoint; half the homes sold for more, half for less. <\/span><\/span><\/p>\n Looking at Florida\u2019s year-to-year comparison for sales of condo-townhouses, a total of 125,494 units sold statewide in 2022, down 21.7% compared to 2021. The statewide median price for condo-townhouse properties at the end of the year was $306,500, up 21.6% from the previous year. <\/span><\/span><\/span><\/p>\n Statewide, the median percentage of the original listing price received by sellers at the end of 2022 continued at about the same level year-over-year in both property type categories at 100% for single-family existing homes and at 99.9% for condo and townhouse units.<\/span><\/span><\/span><\/p>\n According to Florida Realtors\u2019 data, at the end of 2022, in December 2022 and also in 4Q 2022, inventory (active listings) for single-family homes stood at a 2.7-months\u2019 supply, while inventory for condo-townhouse properties was at a 2.8-months\u2019 supply.<\/span><\/span><\/span><\/p>\n \u201cThe good news is, we have a lot more inventory than what we had over the pandemic years,\u201d O\u2019Connor said. \u201cActive listings of single-family existing homes more than doubled from a 1-month supply at the end of 2021 to a 2.7-months\u2019 supply at the end of 2022. If we get a little relief in mortgage rates, then all the other factors are still there that make Florida appealing and a strong draw for buyer demand.\u201d<\/span><\/span><\/span><\/p>\n In December, closed sales of single-family homes statewide totaled 19,158, down 36.1% from December 2021, while existing condo-townhouse sales totaled 7,677, down 40% year-over-year, according to Florida Realtors\u2019 data. <\/span><\/span><\/span><\/p>\n The statewide median sales prices for both existing single-family homes and condo-townhouse properties rose year-over-year in December 2022. The statewide median sales price for single-family existing homes was $395,000, up 5.6% from the previous year. Meanwhile, the statewide median price for condo-townhouse units was $310,000, up 8.8% over the year-ago figure.<\/span><\/span><\/span><\/p>\n Statewide closed sales of existing single-family homes totaled 57,004 in the fourth quarter of 2022, down 33.1% compared to the previous-year figure, according to Florida Realtors\u2019 data. The statewide median sales price for existing single-family homes for 4Q 2022 was $<\/span><\/span>400,000, up 9.6% from 4Q 2021.<\/span><\/span><\/span><\/p>\n Looking at Florida\u2019s year-to-year comparison for sales of condo-townhouses in 4Q 2022, a total of 23,117 units sold statewide, down 35.5% from the same quarter in 2021. The statewide median price for condo-townhouse properties for the quarter was $310,000, up 14% over the previous year. <\/span><\/span><\/span><\/p>\n Looking ahead in 2023, Chief Economist O\u2019Connor said mortgage rates \u2013 and the Federal Reserve\u2019s action on interest rates as it continues to fight inflation \u2013 will influence ongoing market conditions.<\/span><\/span><\/span><\/p>\n He said, \u201c<\/span>Over the next six months, if mortgage rates don\u2019t rise and return to 7%, that would help encourage buyers \u2013 and I think we\u2019ll see mortgage rates stay just above 6% for a while. If we keep seeing more good news on the economic front, then I think we\u2019ll see the housing market respond. Buyer demand is there, perhaps waiting on easing home prices, more supply and other factors.\u201d<\/span><\/span><\/p>\n To see the full statewide housing activity reports, go to the <\/span>Florida Realtors\u2019 Newsroom<\/span><\/a> and look under Latest Releases or download the December, 4Q or Year End 2022 data report PDFs under <\/span>Market Data<\/span><\/a> on the site.<\/span><\/span><\/span><\/p>\n \u00a9 2023 Florida Realtors\u00ae<\/span><\/span><\/p>\n<\/div><\/div>\n <\/p>\n <\/p>\n\nYear End 2022<\/span><\/span><\/span><\/h3>\n
December 2022<\/span><\/span><\/span><\/h3>\n
4Q 2022<\/span><\/span><\/span><\/h3>\n
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