The Southeast Florida housing market reported higher median prices, a rise in all-cash sales, and constrained inventory levels in September compared to a year ago, according to Florida Realtors' latest housing data.  Condominium sales were up but single-family home sales slipped a bit from a year ago. The housing market reported higher median prices, a rise in all-cash sales, and constrained inventory levels in September compared to a year ago, according to Florida Realtors' latest housing data.

Median prices are up, yet inventory continues to lag.

Median prices:

-        up 18.3% for single-family homes,

-        up 17.2% to $255,000 for condos,

-        single-family home sales down 1.3%,

-        condo sales up 4.9%.

“The September data shows that while median prices are well above their year-ago levels for both single-family and condo-townhouse properties, the rate of price growth month-to-month has slowed down quite a bit over the past few months,” says 2021 Florida Realtors President Cheryl Lambert.  “Of course, demand and a lack of inventory continue to put rising pressure on home prices. If mortgage rates start to increase more in the coming months, as many analysts predict, that could ease the intense demand we’ve been seeing.”

The statewide median sales price for single-family existing homes in September was $355,000, up 18.3% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last month’s statewide median price for condo-townhouse units was $255,000, up 17.2% over September 2020. The median is the midpoint; half the homes sold for more, half for less.