Despite the pandemic, the housing market in Florida maintained its optimistic momentum last month, with stronger sales, greater pending sales, elevated median prices, and additional fresh listings versus 2019. Sales of new single-family homes saw an increase of just over eleven percent compared to July of last year, the best monthly result for this category of property since the close to twenty percent rise in January.
Combined with the 23+ percent year-over-year rise in pending new sales during June, all signs seem to indicate that this surge of closed sales will go on through the end of the season and may continue. Single-family existing home sales in Florida are down a mere four percent year-to-date through July compared with 2019.
For more than 100 straight months now, Florida median sales prices for both single-family homes and condo-townhouse properties increased year-over-year during July. The median selling price in the state for new single-family homes hovered around $295,000, an increase of just over ten percent compared to last year.
This update is by hard money loans Miami company Monroe Funding Corporation, a direct equity lender serving clients throughout Central and South Florida. We specialize in first mortgages on non-owner occupied residential and commercial property investments as well as real estate loan options. Our fast and flexible loan programs get you to the closing table quickly and professionally. For more information on hard money lenders Palm Beach or Orlando hard money lending, please call 954-816-0388 or fill out our application.