AgentMarkets & Economy

Florida sales rise by 8.6 percent thanks to 4 MSAs

Miami and Tampa MSAs contribute more than 4,000 homes sales in August
  • Four MSAs accounted for nearly 57 percent of all August sales in Florida.
  • Miami leads all Florida MSAs in single-family and condo sales.
  • Inventory is a concern for Florida moving forward.

Single-family home sales activity in Florida recently rose by 8.6 percent year-over-year. That's mostly due to the performance of four MSAs (metropolitan statistical areas). According to Florida Realtors, 23,605 existing homes sold during August statewide, with 13,346 of those sales (56.5 percent of all statewide sales) occurring in one of these MSAs: Miami-Fort Lauderdale-Pompano Beach Tampa-St. Petersburg-Clearwater Orlando-Kissimmee-Sanford Jacksonville With 4,192 single-family sales, the Miami MSA contributed the largest volume of August transactions. Its sales volume total represents a 6.1 percent year-over-year rise. At the same time, the median price of a home spiked by 7.4 percent, reaching $290,000. Shackleford-Photography / Shutterstock.com Miami also accounted for nearly 42 percent (3,850 sales) of all condo/townhome sales that occurred in Florida last month. The median price of these transactions rose by 11.4 percent to $156,000 year-over-year....