I hope this May?2024 Florida Real Estate Review finds you well.?I?encourage you to share it with clients, colleagues, and friends who may find it interesting.
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The Elliman Florida New Signed Contracts Report?provides activity for the month in the following counties:
- Broward For nearly 3?years, the number of newly signed contracts for single families and CONDOS has fallen year-over-year. Above the $1 million threshold, newly signed contracts over the same period declined for the first time after surging for 3 months. Since September, new inventory growth has pressed higher across the market, potentially enabling more sales later this year.
- Duval Newly signed single family and CONDO contracts have fallen annually for the past 5?months as elevated mortgage rates dampened demand. Above the $1 million threshold, newly signed contracts over the same period have declined over the past 4?months. New inventory growth has pressed higher across the market for the past 4?months, potentially enabling more sales later this year.
- Hillsborough Since the spring of 2021, newly signed contracts for single families and CONDOS?have declined year-over-year. Above the $1 million threshold, however, newly signed contracts for single families have increased for 2?of the past 3 months, enabling more sales later this year.
- Miami-Dade Over the past 3?months, the number of newly signed contracts for single families and CONDOS has fallen year-over-year. Above the $1 million threshold, newly signed contracts over the same period declined for the first time after surging for 6?months. Since August, new inventory growth has pressed higher, enabling more sales.
- Palm Beach For the past 2?months, new single family and CONDO?contracts have fallen annually. Above the $1 million threshold, however, newly signed contracts over the same period have increased over the past 4?months. Since October, new inventory growth has pressed higher across the market, enabling more sales.
- Pinellas Newly signed single family and CONDO contracts have fallen annually for the past 2?months as elevated mortgage rates restrained demand. Above the $1 million threshold, newly signed contracts over the same period have surged over the past 3?months. Since August, new inventory growth has pressed higher across the market, enabling more sales.
- St. Johns Newly signed single family and CONDO contracts have fallen annually for the past 4 months as elevated mortgage rates restrained demand. Above the $1 million threshold, newly signed contracts over the same period have declined over the past 2?months. New inventory growth has pressed higher across the market for the past 4?months, potentially enabling more sales later this year.
- Sarasota For the third time, newly signed single family and CONDO contracts and new listings decreased year-over-year. On the contrary, newly signed single family contracts above the $1 million threshold have risen over the past 3 months.
April 2024 Year-Over-Year Sales, by County (Source:? Realtors of the Palm Beach and Greater Fort Lauderdale)
- Single-Family Home Sales Volume increased?10.5%
- CONDO and Townhouse Sales Volume increased?2.4%
- Single-Family Home Median Sales Prices increased?10.4% to $635,000 from $575,000
- CONDO and Townhouse Median Sales Prices increased?4.6%?to $282,500 from $270,000
- Single-Family?Home Sales Volume?increased?6.5%
- CONDO and Townhouse Sales Volume?increased?4.5%
- Single-Family Home Median Sales Prices?increased?9.0% to?$654,000 from $600,000
- CONDO and Townhouse Median Sales Prices?increased?7.0% to $444,000 from $414,900
- Single-Family?Home Sales Volume increased?11.1%
- CONDO and Townhouse Sales Volume?decreased?1.1%
- Single-Family Home Median Sales Prices increased?11.1% to?$650,000 from $585,000
- CONDO and Townhouse Median Sales Prices?increased?12.2% to $340,000 from $303,000
- Single-Family?Home Sales Volume?increased?7.7%
- CONDO and Townhouse Sales Volume?increased?3.1%
- Single-Family Home Median Sales Prices?decreased?3.6%?to $889,500 from $922,500
- CONDO and Townhouse Median Sales Prices?increased 0.8% to $550,000 from $545,900
- Single-Family?Home Sales Volume?decreased?3.0%
- CONDO and Townhouse Sales Volume?decreased?4.9%
- Single-Family Home Median Sales Prices?increased?2.2%?to $429,250 from $420,000
- CONDO and Townhouse Median Sales Prices?increased?3.4% to $299,900 from $289,950
- Single-Family?Home Sales Volume increased?22.3%
- CONDO and Townhouse Sales Volume?decreased?8.6%
- Single-Family Home Median Sales Prices increased?7.8% to?$485,000?from $450,000
- CONDO and Townhouse Median Sales Prices?increased 1.7% to $305,000 from $300,000
Interested in Brand New Construction? View:?New Developments in Florida
If you are interested in buying or selling properties in any of these regions, my team and I would be happy to assist you.
