Market Mondays: Data Breakdown (Florida)
Let's use data to understand where the housing market stands. This way we can make more educated decisions on investing.
News and articles can only do so much to educate people on the market. Often times these channels of information do a better job generating clicks than they do giving you useful investment data. This will be a quick delve into the numbers:
Key Market Indicators
Let's delve into some crucial indicators that shed light on the dynamics of the Florida housing market:
For Sale Inventory: As of February 29th 2024, there are 138,257 properties listed for sale, showcasing a diverse range of options for potential buyers.
New Listings: In the same period, 49,317 new listings have entered the market, providing fresh opportunities for those in pursuit of their dream homes.
Median Sale Price: As of February 29th 2024, the median sale price for homes in Florida is $408,000, reflecting the valuation trends in the market.
Listings with Price Drops: Listings with Price Drops, are an important benchmark for buyers and sellers, the percentage is 32.3% as of February 2024.
Percent of Sales Over List Price: Notably, 10.7% of sales in February 2024, exceeded the list price, indicating a balancing environment.
Homes Pending within 2 Weeks: On the other hand, 34.4% of homes accepted offers and went under contract within 2 weeks of getting listed, providing insights into negotiation dynamics.
These statistics collectively paint a picture of the Florida housing market, illustrating its vibrancy, competitiveness, and the variety of factors that influence buying and selling decisions. If you have any questions about this information and additional data sets, please contact damon@damonbishop.com