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Report: Florida sales, listings, prices all up in August

by Kelly McCabe

While Hurricane Irma may have a detrimental effect on Florida housing in September, a new report from Florida Realtors shows that the state’s market fared well in August. The report shows that closed sales and pending sales, new listings and median prices all increased last month. 

The market in Miami-Dade County, however, continues to struggle as high prices and a tight inventory plague potential buyers. According to The Real Deal Miami, residential sales in the county dropped 9.7 percent year-over-year to 2,158. The median home price for a single-family home in Miami-Dade County in August 2017 was $337,500, up 12.5 percent from last year. 

The state overall fared well, however, with 25,235 single-family homes sold in Florida in August for an increase of 0.9 percent over August 2016. The median sales price for those single-family homes crept up to $240,000 — up a significant 6.7 percent from the same time last year. Florida Realtors said median home prices have increased for 69 straight months. 

“Housing market trends we have been seeing for months in Florida continued in August,” said 2017 Florida Realtors President Maria Wells. “More owners are deciding to enter the market and list their homes for sale, while demand from buyers continues to grow, especially for homes in the $250,000-and-under range. Homes are continuing to sell quickly, though tight inventory is putting pressure on rising median prices and creating affordability challenges for many first-time buyers.”

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