2019 Florida Housing Year-End Review

2019 Florida Housing Review. Time to celebrate the Real Estate Market of 2019

Data released 2/12/2020

The official 2019 Year-End Florida Housing Review includes the overall real estate market results for 2019 as well as the 4th quarter results by metropolitan statistical area. Florida, as a state, experienced a continued increase in closed sales and a rise in median home prices over last year according to the latest statistics released by Florida REALTORS®.

The year-end numbers reflect strong growth, with Lee county trending similar to the overall state performance in single-family homes sales growth and median home price increases. Collier county, on the other hand, finished the year with a 10.4% growth in single-family home sales. Simply impressive. A growing economy coupled with strong job growth and low-interest rates helped amplify the numbers across 2019.

The downside of the 2019 Florida Housing Market

There was a negative to 2019 though, and it’s not so obvious, or at least doesn’t get as much press. I’m referring to the housing inventory. Most markets across Florida, as well as the country, are experiencing double-digit reductions in housing inventory for sale. This will be an issue for 2020 as the overall population grows coupled with the migration from the rest of the country to Florida.

We can’t sell what’s not on the market for sale. We get creative and take the offensive to call homeowners in a homebuyers target market to see if we can work out a deal, but the upfront willingness for home sellers to put their home up for sale has reduced significantly and does cause concern over the lack of options. This will help continue to raise home pricing across the board due to lack of availability, however, affordability will have an effect on this as well. Everyone has a line in the sand.

One of our own home buyers was in the market for a home 11 months ago with a healthy $350,000 budget and a small “must-have” list. Life happens and they put their home search on hold. We started helping them recently only to find that after 11 months, they would have to spend $400,000 to get the same house criteria they were looking for when they started. The general public dismisses this as a sales tactic, but ask someone who started “browsing” the market a year ago and decided to wait. They all have a story of disbelief and are considering a slight increase in budget and a pull back on the “must-haves”. The struggle is real.

You wouldn't read the Wall Street Journal from last Summer for stock market advice now, so don't use a part-time agent that dabbles in real estate. Use a full-time, professional REALTOR to best guide you today. ~Michelle Richard -… Click To Tweet

Schedule an appointment to discuss the housing market impact on you.

2019 Florida Housing Activity by Metropolitan Statistical Area (MSA)

This report reflects single-family homes, townhouses and condos closed sales and median sale prices. This data is a summary and detail of the 22 marketing statistical areas (MSA) of Florida.

The TERMS Glossary will explain the importance of each of these metrics.

State of Florida
2019 Single-Family Homes
Closed 294,120 sales, up +5.9% compared to last year.
Median sale price increased +3.7% to $264,000.
2019 Q4 Single-Family Homes
Closed 70,839 sales, up +11.6% compared to last year.
Median sale price increased +4.3% to $265,900.

State of Florida
2019 Townhouse / Condo
Closed 115,659 sales, down -0.8% over last year.
Median sale price increased +3.8% to $192,000.
2019 Q4 Townhouse / Condo
Closed 26,932 sales, up +3.3% over last year.
Median sale price increased +5.9% to $195,000.

Collier County, FL

Naples / Marco Island / Immokalee (MSA)
2019 Single Family Homes
Closed 5,409 sales, up +10.4% over last year.
Median sale price decreased -2.5% to $435,000.
2019 Q4 Single Family Homes
Closed 1,311 sales, up +18.1% over last year.
Median sale price increased +0.5% to $435,000.

Naples / Marco Island / Immokalee (MSA)
2019 Townhouse / Condo
Closed 5,687 sales, up +3.1% over last year.
Median sale price increased +2.5% to $268,250.
2019 Q4 Townhouse / Condo
Closed 1,318 sales, up +20.0% over last year.
Median sale price decreased -1.7% to $262,500.

Lee County, FL

Cape Coral / Fort Myers (MSA)
2019 Single Family Homes
Closed 13,790 sales, up +3.4% over last year.
Median sale price increased +3.0% to $258,615.
2019 Q4 Single Family Homes
Closed 3,308 sales, up +17.2% over last year.
Median sale price increased +4.2% to $260,000.

Cape Coral / Fort Myers (MSA)
2019 Townhouse / Condo
Closed 6,916 sales, up +4.1% over last year.
Median sale price remained flat at $192,000.
2019 Q4 Townhouse / Condo
Closed 1,599 sales, up +23.5% over last year.
Median sale price increased =1.0% to $194,400.

Detailed 2019 Year-End Florida Housing Reports are available by county, city, and neighborhood.

Request a Custom Market Data Report.

2019 Year-end Florida Housing Review by MSA.
PDF download link below.

source: FloridaRealtors.org

Request a Customized Market Data Report here.

2019 Q4 Florida Housing Review by MSA.
PDF download link below.

source: FloridaRealtors.org

In Summary

Take advantage of the current market conditions. Is now the best time to Sell, to Buy? That depends on how good your REALTOR is. How can I get the best deal? A great REALTOR can help you understand the mico-markets that interest you. They can identify the good deals from the GREAT deals as a buyer or the seller. Their ability to read the current and trending market conditions will structure the best next steps. You wouldn’t read the Wall Street Journal from last Summer for stock market advice now, so don’t use a part-time agent that dabbles in real estate when they’re bored. Use a full-time, professional REALTOR to best guide you today.

2019 is officially wrapped up. It’s time to review your options. Simply request your complementary consultation. We’ll design a game plan and review realistic outcomes, all backed by facts, and supported by our experience. Our customized reporting focuses on the statistics at the street level. We offer full concierge services. We stress over the details so you don’t have to.

We’re experienced, driven, and accomplished. We’re not pushy salespeople, we’re Marketing Professionals who Sell Real Estate and get the job done.

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Written by 

A seasoned marketing professional who sells real estate. His vast executive experience incorporates rock-solid strategic operations and stunning brand development. He manages both Almost Home locations. (Cape Coral, FL, and Westerly, RI). Chris has a healthy obsession with lifelong learning and skill development. As a result, he is a licensed FL & RI REALTOR®, Pricing Strategy Advisor, Accredited Staging Professional, and Real Estate Consultant. Chris is tenacious with the evolution of our distinct concierge services. Thus, his laser focus on the dynamic residential real estate market keeps us two steps ahead of the competition. Making Real Estate, Simplified.

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