Florida Realtors Market Update for June 2019 With Brad O’Connor Ph. D. TRT 2m 10 sec 7-18-19 Brad O’Connor directly addresses camera: On the heels of a record-breaking month of May, sales of existing homes in Florida cooled off a little in June, according to newly released figures from Florida Realtors. Single family home sales were down compared to last June in 14 of the state’s 22 metro areas, falling by slightly less than 2 percent on a statewide basis. Year-to-date, however, single family home sales are still up by 2.1 percent for the year. Statewide sales of condos and townhomes fared worse in June, falling by 9.4 percent year-over-year. As a result, sales in this category are now down by 4 percent for the year. The latest figures on inventory levels for June suggest that the recent reprieve in our longer-term single-family home shortage is now coming to an end. Year-over-year differences in inventory levels have been declining since the end of January, when there were almost 14 percent more homes listed than a year prior. As of the end of June, however, this gap narrowed to just 2 percent. It’s possible that at the end of July, in fact, we might just be back right where we started a year ago. In the condo and townhouse property category, where a shortage of inventory has not been as much of an issue in most markets over the past few years, end-of-June inventory was up by 4.6 percent, year-over-year. The median sale price for existing homes in Florida continued to climb at a more sustainable rate than it has in recent years. The median sale price for single family homes in June was $270,000, a 3.8 percent increase over last June’s median of $260,000. The median sale price for condos and townhouses, meanwhile, was up 2.6 percent, from $190,000 to just under $195,000. Now that you’re up to speed on the statewide trends, be sure to take a look at the statistics for your local market to see how they compare! As always, you can find these statistics at floridarealtors.org/research