Market Update 
With Brad O’Connor, Ph. D.
For August 2019
TRT: 2:06
Transcribed

Brad O'Connor Directly addresses camera: The newly released Florida Realtors housing market statistics reveal that sales and price growth in August was very much in line with what we've seen throughout 2019 so far.
Year-over-year sales growth for Florida single-family homes in August checked in at 3.2 percent, which puts us at 3.4 percent growth for all of 2019 compared to the first eight months of 2018. The median sale price for single-family home sales closing in August was $265,000, which is 4.2 percent higher than last August's median of just under $255,000. Overall for the year, the median price among all 2019 Florida single-family home sales is currently about 3.1 percent above 2018's median through August.
The downward trend in single-family inventory levels that has characterized 2019 continued in August, as well.  Statewide, the MLS inventory of single-family homes was down over 5 percent compared to a year ago.
Over in the condo and townhouse category, the statewide number of closed sales was down year-over-year in August, falling by nearly 3 percent, which is right in line with the 3 percent decline we've seen for the year overall. Still, the August median sales price in this property category was up by 2.7 percent compared to last year, rising to $190,000.
Inventory levels for condos and townhouses remain elevated in several markets - at least, compared to single-family homes. However, there is a lot of variance across the state in how condos and townhouse markets are performing, so you should definitely consult your local market statistics to find out what's going on in your area. And by the way, you can find those local area statistics and a whole lot more by visiting floridarealtors.org/research.