THE FLORIDA HOUSING MARKET REPORT

PREPARED BY KEVIN JOHNSON

LICENSED REAL ESTATE BROKER & INSTRUCTOR

Welcome to OneBlue!

On behalf of everyone here at OneBlue Real Estate School, welcome to our all-new Florida housing market statistics page. Whether you are a consumer, future real estate agent, or current licensee, we hope that the information compiled here is helpful to you. On this page, you’ll find the current year’s housing market statistics plus the three full preceding year’s statistics broken down by month. We’ve also gone as far back as 2008 and compiled quarterly data to help give you context on how past economic events impacted real estate.  

Three Categories of Data

CLOSINGS

The most recent as well as historical statistics on closed sales, closed volume, average sale price, year-over-year sale price growth, and percentage of all closings that were cash sales.

INVENTORY

In this section, we explore the most recent, as well as historical statistics on available properties for sale, new listings, new pending sales, median days to contract and closing, and the supply of properties for sale.

MORTGAGE

In the final section, we will cover current and historical interest rates, year-over-year increases/decreases, as well as keep tabs on the percentage of disposable income consumers are spending on their mortgage payments.

IMPORTANT NOTICE: Please view on a desktop, laptop, or tablet for the most optimal experience.

CLOSINGS

01. CLOSED SALES

In the chart below, we’ve broken down the average sale price for all properties sold within the State of Florida by members of Florida REALTORS®. The data is broken down by year and by month.

CLOSED SALES BY MONTH AND YEAR

CLOSED SALES BY QUARTER

02. CLOSED VOLUME

The numbers in the charts below represent, in billions, the total volume (total of all sale prices for closed sales) of closed sales in the State of Florida. 

CLOSED VOLUME (IN BILLIONS) BY MONTH AND YEAR

CLOSED VOLUME (IN BILLIONS) BY MONTH AND YEAR

03. Average Sale Price

In the chart below, we’ve broken down the average sale price for all properties sold within the State of Florida by members of Florida REALTORS®. The data is broken down by year and by month and includes all sales types and property types in the State of Florida.

Average Sales Price BY MONTH AND YEAR

Average Sales Price BY QUARTER

04. Year-Over-Year Appreciation

In the chart below we look at the average percentage increase (or decrease) in year-over-year average sale prices of homes. The data includes all sales types and property types in the State of Florida.

Year-Over-Year Percentage Gain/Loss by Month

Year-Over-Year Percentage Gain/Loss by Quarter

05. CASH SALES

Cash sales have seen a drastic increase over the last few years as more and more investors eye the Sunshine State as a place to park capital in rental properties. In this chart, we highlight the percentage of all sales that were closed with cash and no financing.

PERCENTAGE OF ALL SALES BY MONTH AND YEAR

PERCENTAGE OF ALL SALES BY QUARTER

INVENTORY

06. AVAILABLE PROPERTIES FOR SALE

Available inventory represents the number of properties available for sale during the month. This includes any listings that carried over from the previous month as well as new listings that came on the market during the month. 

ACTIVE INVENTORY BY MONTH AND YEAR

ACTIVE INVENTORY BY QUARTER

ACTIVE INVENTORY YEAR-OVER-YEAR INCREASE BY QUARTER

07. NEW LISTINGS

New listings represent the number of new properties of all types that were listed for sale during the given period of time. 

NEW LISTINGS BY MONTH AND YEAR

NEW LISTINGS BY QUARTER

New Listings YOY Increase/Decrease Percentage by Quarter

08. NEW PENDING SALES

New pending sales represent properties there actively listed for sale and went under contract to close during the period in question.

NEW PENDING SALES BY MONTH AND YEAR

NEW PENDING SALES BY QUARTER

NEW PENDING SALES YOY Increase/Decrease Percentage by Quarter

09. MEDIAN TIME TO CONTRACT

Median time to contract represented the time period between when a property is listed for sale and the day it went into the pending status, meaning it is now under contract. Some states refer to this as “in escrow.”

MEDIAN TIME TO CONTRACT BY MONTH AND YEAR (in days)

MEDIAN TIME TO CONTRACT BY QUARTER (in days)

MEDIAN TIME TO CONTRACT YOY Increase/Decrease Percentage by Quarter

0X. MEDIAN TIME TO CLOSING

Median time to contract represented the time period between when a property is listed for sale and the closing day when the title is transferred to the new owner(s). The “closings” is sometimes referred to as “close of escrow” or “consummation.”

MEDIAN TIME TO CLOSING BY MONTH AND YEAR

MEDIAN TIME TO CLOSING BY QUARTER

10. MONTHS SUPPLY OF PROPERTIES

The following chart details the housing supply by the month and the year. The number indicates how many months of housing supply the Central Florida market has available. In a balanced market, meaning the buyer and the seller are on equal footing, the housing supply would be 6-months. Anything lower than 6-months is a seller’s market and anything higher is a buyer’s market.

Months Supply of Properties by Month/Year

Months Supply of Properties by Quarter

Months Supply of Properties YOY Increase/Decrease Percentage by Quarter

FINANCE

11. MORTGAGE RATES

To help us better understand current economic factors and how they may or may not impact the housing market, we have to have context. This chart shows the average 30-year fixed-rate mortgage average in the United States dating back to 1971. The highest interest rates ever went to was just below 19% and that was back in October of 1981. 

SOURCE: ST. LOUIS FED

12. Mortgage Debt Service Payments

In this chart, we plot out mortgage debt service payments as a percentage of disposable personal income (MDSP). In Q3 of 2007, just before the great recession, the average home owner’s mortgage payment represented 7.2% of their disposable income. At the end of 2021, that number was roughly half. 

SOURCE: ST. LOUIS FED