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
Paradise Found Realty, Inc. of Palm City
website: www.ParadiseFoundRealtyFl.com
Email: diane@paradisefoundrealtyfl.com
Phone: 954-294-5060
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