High inflation, rising mortgage interest rates and still-tight inventory levels were factors influencing Florida’s housing market in May, with fewer closed sales compared to a year ago, according to Florida Realtors®’ latest housing data.
The statewide median sales price for single-family existing homes in May was $420,000, up 21.8% from the previous year. Last month’s statewide median price for condo-townhouse units was $322,000, up 28.8% over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.