ORLANDO, Fla. – November 16, 2015 – (RealEstateRama) — Florida’s housing market reported more closed sales, higher median prices, a tighter inventory and fewer days on the market during the third quarter of 2015, according to the latest housing data released by Florida Realtors®. Closed sales of single-family homes statewide totaled 74,141 in 3Q 2015, up 14.7 percent over the 3Q 2014 figure.
The statewide median sales price for single-family existing homes in 3Q 2015 was $199,900 up 9.8 percent from the same time a year ago, 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 during the quarter was $150,000, up 7.9 percent over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.
Inventory was at a 4.4-months’ supply in the third quarter for single-family homes and at a 5.2-months’ supply for townhouse-condo properties, according to Florida Realtors.
According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 3.95 percent for 3Q 2015, down from the 4.14 percent average recorded during the same quarter a year earlier.