The official January 2020 Florida Housing Report was released on February 21, 2020. It reflects Florida’s continued growth in sales and median home prices.
Florida Housing Report Overview
January was a great start to the 2020 Florida Real estate market.
December 2019 closed out an impressive year and the numbers have continued into January. This is based on statistics from the Florida Realtors Association.
January still reflected favorable market conditions in part by continued low mortgage rates and strong economy. Resulting in January closed sales on single-family homes up almost 18% and condos and townhouses up 14.5%.
The single-family median home sale price rose 6% to $265,000. We also saw growth in the median sales price of condos and townhouses up 9.6% to $200,000.
Listen to the January 2020 Florida Real Estate Market Overview HERE
Housing Inventory
The current inventory levels are on par for January, slightly higher than December. They are still a concern as they continue to trend downward.
Inventory of single-family homes is down 16.4% and condo townhouses are down 11.7% in comparison to last year at this time.
Keep in mind, when we take a look back to January of last year, the conditions we were up against. The federal government shutdown, a stock market in flux and the mortgage rates were just starting to decline all influencing the results.
The Pending Home Sales Index (PHSI), a forward-looking indicator based on contract signings, grew 5.2% to 108.8 in January. Year-over-year contract signings increased 5.7%. An index of 100 is equal to the level of contract activity in 2001.
In addition, the recent near-record low mortgage rates have lead borrowers to rush to refinance their homes. As the federal reserve makes their adjustments, Fannie Mae is a good source for the latest in new single-family mortgages.
Download the Full Florida Real Estate Market Reports at the bottom of this page.
That was a quick overview of the Florida real estate market as a whole. We dive deeper into details by county on our local market data page. There you can also request complimentary market reports specific to your neighborhood.
The official February housing report will be released on March 20, 2020, and posted on our website shortly thereafter.
Looking to dive deeper into the economics behind your local real estate market? We provide complimentary guidance to understanding the market terms and statistics driving the value of your home. Reach out to us and let us help you, plan for the future.
Single-Family Home – Market Sales Activity
| January 2020 | State of Florida | Cape Coral Fort Myers (MSA) | Naples Marco Island (MSA) |
|---|---|---|---|
| Sales – Closed | 18,298 | 912 | 373 |
| Year/Year % Change | +17.9% | +25.3% | +14.1% |
| Median Sale Price | $265,000 | $270,000 | $470,000 |
| Year/Year % Change | +6.0% | +2.1% | +14.6% |
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Townhouse and Condo- Market Sales Activity
| January 2020 | State of Florida | Cape Coral Fort Myers (MSA) | Naples Marco Island (MSA) |
|---|---|---|---|
| Sales – Closed | 7,714 | 489 | 408 |
| Year/Year % Change | +14.5% | +15.9% | +32.0% |
| Median Sale Price | $200,000 | $205,000 | $278,250 |
| Year/Year % Change | +9.6% | +8.2% | +5.2% |
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PDF Downloads for January 2020 Florida Housing Reports
Visit our Local Real Estate Market Data page for Summary Reports and Custom Report Downloads.
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