Florida Realtors report statewide inventory tight and days on market falling

Closed sales dropped slightly in Miami for both single-family homes and townhomes
  • October was the 47th consecutive month with statewide median sales price on an annual basis
  • The Miami area saw a 9.2 percent increase in townhome values
  • Median home price was reported at $283,900, a 7.1 percent increase over the same month last year

Median sales prices in Florida have continued to rise on an annual basis for nearly the past four years, according to the latest data released by Florida Realtors. The report found homes are staying on the market for fewer days and median prices are increasing, fueled by the tight inventory of available supply.