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The Honest Broker: MARKET WATCH For August 2021

THE HONEST BROKER :SOLUTIONS FOR EXTENDED FAMILY LIVING 

The Honest Broker: MARKET WATCH For August 2021

   BY: DIANE LOTT, BROKER     PARADISE FOUND REALTY

Single Family Homes

        AUG  2020

        AUG 2021

      % Change

Closed Sales

             248

            227

          -8.5%

Ave. Sale Price

         $659,517

     $852,768

          29.3%

Median Time to Sale

         79 Days

       55 Days

         -30.4%

New Listings

             240

           209

          -12.9%

Active Inventory (# of homes)

             559

           302

         -46.0%

Months’ Supply of Inventory

              2.8

            1.2

         -57.1%

SUMMARY:  The number of homes and the supply of homes on the market are down significantly by 55% or greater. Also, there is a decrease of new listings coming on the market by 8%

 

CONDITION:  Seller’s Market as reflected by the increased prices and diminished inventory. Selling price of homes has increased to almost 30% over last year’s pricing.

The situation remains the same as multiple buyers continue to bid on the same property resulting in what is termed as a “bidding war”. In many situations, buyers are paying over “list price” to win the home. 

Townhomes & Condos

       AUG 2020

       AUG 2021

        % Change

Closed Sales

            109

             106

               -2.8%

Ave. Sale Price

        $210,054

        $276,035

              31.4%

Median Time to Sale

          92 Days

           50 Days

             -45.7%

New Listings

           119

            110

             -7.6%

Active Inventory (# of homes)

           318

            135

             -57.5%

Months’ Supply of Inventory

            3.6

             1.1

             -69.4%

SUMMARY:  Closed Sales are approximately what they were last year. The average selling price has increased significantly to 30% higher than last year’s selling price.

There is a significant decrease in the number of townhomes/condos on the market. 

CONDITION:  Seller’s Market as reflected by the diminished inventory and higher sales price.  

 

Be Well!!

Diane

Diane Lott, Broker

Owner: Paradise Found Realty

*The highest compliment you can give is when you feel you can refer a friend…
  Hope to see them soon!

Paradise Found Realty, Inc. of Palm City

website:  www.ParadiseFoundRealtyFl.com

Email:  diane@paradisefoundrealtyfl.com

Phone:  954-294-5060

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