Florida Housing Market Shows Rising Prices in March

Florida's housing market reported higher median prices, more new listings and a stable level of inventory in March, according to the latest housing data released by Florida Realtors®. Closed sales of single-family homes statewide totaled 20,081 last month, up 2.8 percent over the March 2013 figure.

"March marked the 28th month in a row that statewide median sales prices rose year-over-year for both single-family homes and townhome-condo properties," said 2014 Florida Realtors President Sherri Meadows, CEO and team leader, Keller Williams, with market centers in Gainesville, Ocala and The Villages. "Realtors across Florida are reporting fewer short sales of distressed properties and more interest from potential home sellers as they observe the return of more traditional market conditions. Statewide, new listings for single-family homes in March rose 16.5 percent year-over-year, while new townhouse-condo listings rose 10.3 percent."

The statewide median sales price for single-family existing homes last month was $173,000, up 7.1 percent from the previous year, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. The statewide median price for townhouse-condo properties in March was $140,000, up 16.7 percent over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.

Read more at Florida Realtors®