Florida Housing Market Stabilizing As Prices Rise

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Florida’s housing market had more closed sales, higher median prices, increased new listings and an increase in inventory in September. Closed sales of single-family homes statewide totaled 20,792 last month, up about 13.5 percent from last Septembers numbers. The statewide median sales price for single-family existing homes last month also rose to $180,000, a 5.9 percent increase.

The closed sales data shows less short sales last month compared to the previous year: Short sales for condo-townhouse properties decreased 57.9 percent while short sales for single-family homes dropped 48 percent. Closed sales usually happenĀ 30 to 90 days after contracts are written.

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 4.16 percent in September 2014, down from the 4.49 percent average recorded during the same month a year earlier.

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5628 Strand Blvd, Ste 2,
Naples, Florida 3411

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