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The real estate market in Leon County is booming, with newly released data for December revealing some exciting trends for potential buyers and sellers. The median home sale price in the area increased to $290,000, up 13.2% from the previous month. Compared to December 2022, this marks an 8.2% increase, showcasing the ongoing growth and demand in the housing market.
For those interested in single-family homes, the median selling price in Leon County was $315,000 in December, up 12.5% from the month prior. Although there was a slight decrease of 3.1% compared to December 2022, the market remains strong and competitive. Additionally, luxury home sales in the million-dollar range saw a significant increase, with 18 single-family homes and 13 condominiums or townhomes selling for $1 million or more during the month.
The overall number of recorded sales in Leon County rose by 12.5% since December 2022, indicating a healthy level of activity in the market. The total value of residential home sales in the area amounted to $266.8 million, reflecting a vibrant real estate landscape.
Expanding our scope to Florida as a whole, the state’s real estate market also experienced positive growth in December. Homes sold at a median of $381,036, up 1.6% from the previous month. Despite a slight decrease in recorded sales, the total value of residential home sales in Florida increased significantly to $25.5 billion, showcasing the overall strength of the market.
FAQs:
1. What is the significance of the median home sale price?
The median home sale price represents the midway point of all houses or units sold over a given period. It offers a more accurate view of market trends compared to the average sale price, which can be skewed by outliers.
2. How is data from Realtor.com sourced?
Realtor.com sources sales data from real estate deeds, resulting in a few months’ delay in up-to-date information. This data does not include homes currently listed for sale and may not be directly comparable to listings data.
3. What trends were observed in luxury home sales in Leon County?
Luxury home sales in Leon County saw a significant increase in December, with a higher number of single-family homes and condominiums or townhomes selling for $1 million or more compared to the previous year.
4. How did sales prices of single-family homes and condominiums/townhomes evolve in Florida?
Across Florida, the sale prices of single-family homes and condominiums/townhomes both showed positive growth in December. The median sale prices increased, indicating a strong and competitive real estate market in the state.
5. What factors contribute to the overall strength of the real estate market in Leon County and Florida?
Factors such as high demand, limited inventory, and favorable market conditions contribute to the overall strength of the real estate market in both Leon County and Florida.
In summary, the real estate market in Leon County and Florida as a whole continues to show resilience and growth, with increasing median sale prices and a healthy level of activity. The data for December paints a positive picture of a competitive and vibrant market, ideal for both buyers and sellers looking to make a move in the housing sector.
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