Market Update With Brad O’Connor Ph.D. September 2019 TRT 1;52 Transcribed Brad O’Connor directly addresses camera: The September 2019 Florida residential market statistics from Florida Realtors have just been released, so let’s take a quick look at how the single-family home and condo/townhome markets are doing. Single family home sales were up significantly throughout much of the state in September, rising by 11-and-a-half percent overall on a year-over-year basis. Sales of condos and townhomes were up as well, with an increase of 6.1 percent compared to September of 2019. Sale prices continued to rise in September, as well. The median sale price among Florida single family home sales was $265,000, up 5.3 percent compared to last year. The rise in the median sale price of condos and townhomes was slightly more, at 5.8 percent, ending up at $193,000. With inventory levels continuing to dwindle, low mortgage rates remain the major reason we are continuing to see strong sales and price growth throughout much of the state. And with both sales and prices continuing to rise, it should come as no surprise that the dollar volume of sales throughout the state also increased significantly this September compared to September of last year. Statewide, closed sales of single-family homes totaled to about $8 billion, a year-over-year increase of 17 percent. Dollar volume for sales of townhouses and condos, meanwhile, rose by 7-and-a-half percent to about $2.4 billion. As always, we encourage you to analyze the numbers for your area to help your buyers and sellers understand what’s going on locally. And to find statistics for your local market, all you have to do is visit floridarealtors.org/research.