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Florida sales struggle post-Irma, but prices increase

by Kelly McCabe

While certain parts of Florida remained largely unscathed from Hurricane Irma, some endured significant devastation that is making a big impact on the state’s housing market. 

According to Florida Realtors, there were fewer home sales, pending sales and new listings around Florida last month. Hurricane Irma struck the state on Sept. 10 and battered it for nearly two days, and its effects are still being felt. 

There were 18,030 single-family home sales in Florida last month, down 20.4 percent from September 2016, according to Florida Realtors. However, the demand for homes remains, which is pushing prices up to $239,900 last month — a 7.6 percent increase from the same time last year. Meanwhile, inventory in the state remains tight, with just 3.8 months of supply, according to the organization. 

“It’s not surprising that Hurricane Irma had a negative impact on existing home and condominium sales across most local markets in September — but that’s a normal occurrence after a hurricane,” said 2017 Florida Realtors President Maria Wells. “To understand their housing market conditions, especially in times like this, consumers should work with a local Realtor, who can guide them through the complicated process of buying or selling a home.”

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