Nearly 24,000 single-family homes were sold in Florida in August, up 9 percent compared to the year before.
Time on the market is down and inventory is low.
Houses at both the low and high end of the market are selling quickly. Florida, one of the states hit hardest by the Great Recession, is making a solid recovery.
The statewide median sale price for a single family home hit $199,900 last month, an 11.1 percent increase year over year. Townhouses and condos saw a 5.1 percent gain over last year with a median sale price of $150,000.
Short sales were also down 43 percent year over year for townhouse and condo properties, with closed sales seeing a jump of 8.4 percent. Single-family home short sales also fell 36 percent.
Sales are up and so is the number of jobs — Florida added 15,000 private-sector jobs in August, placing third among all states for job growth.
For foreign investors Brazil regained its status as the No. 1 country searching for South Florida real estate in August.
Brazilians purchase the third most real estate in South Florida among foreign buyers, with 11 percent of all sales in 2014, after Venezuela (16 percent) and Argentina (12 percent) according to the National Association of Realtors.
The state’s rebounding economy is in large part to thank for this trend.