Fla.’s housing market: Median prices rise in Dec. 2016

• The statewide median sales price for single-family existing homes last month was $226,000, up 9.2 percent from the previous year, according to data from Florida Realtors research department in partnership with local Realtor boards/associations.
• According to the National Association of Realtors (NAR), the national median sales price for existing single-family homes in November 2016 was $236,500, up 6.8 percent from the previous yearthe national median existing condo price was $222,600.In California, the statewide median sales price for single-family existing homes in November was $501,710; in Massachusetts, it was $365,000; in Maryland, it was $266,164; and in New York, it was $240,000.
• And, as has been the case all year, the lack of significant sales growth in much of the state has had a lot more to do with a shortfall of supply in key price tiers than with demand.” Inventory dipped to a 3.9-months’ supply in December for single-family homes and was at a 6-months’ supply for townhouse-condo properties, according to Florida Realtors.
• “And that’s where your local Realtor comes in – he or she will put their expertise to work for you to successfully navigate the complexities of finding the right property in your local real estate market and will make sure you get to the closing table.” Home sellers continued to get more of their original asking price at the closing table in December: Sellers of existing single-family homesreceived 96 percent (median percentage) of their original listing price, while those selling townhouse-condo properties received 94.7 percent (median percentage).

Source: Florida Realtors