For much of the last year and a half, the lack of for-sale inventory funneled potential buyers into a limited number of opportunities. The second quarter marked a turning point, with the number of active listings increasing in each month of the quarter. By June, condo listings were up by 20%, while single-family home inventory increased by 31% compared with May. The rapid price gains of recent quarters led to more owners seeking to take advantage of built-up equity in their homes. With more homes available and potential households affected by higher costs, the pricing of listings began to adjust. The median list price of condos fell by 3% in June, while the median list price of single-family homes decreased by nearly 6% on average along Florida’s East Coast. However, properties around $300,000 and below are still in very strong demand.
