The Honest Broker: MARKET WATCH For March 2022
BY: DIANE LOTT, BROKER PARADISE FOUND REALTY
|
Single Family Homes |
MAR 2021 |
MAR 2022 |
% Change |
|
Closed Sales |
297 |
200 |
-32.7% |
|
Ave. Sale Price |
$843,207 |
$764,243 |
-9.4% |
|
Median Time to Sale |
64 Days |
49 Days |
-23.4% |
|
New Listings |
308 |
262 |
-14.9% |
|
Active Inventory (# of homes) |
340 |
223 |
-34.4% |
|
Months’ Supply of Inventory (absorption rate) |
1.5 |
1.0 |
-33.3% |
SUMMARY: All market indicators are down. The reduction of homes available, means reduced sales.
The only thing that seems to be going up are the prices sellers are getting for their homes.
|
Townhomes & Condos |
MAR 2021 |
MAR 2022 |
% Change |
|
Closed Sales |
134 |
97 |
-27.6% |
|
Ave. Sale Price |
$302,813 |
$328,487 |
8.5% |
|
Median Time to Sale |
72 Days |
42 Days |
-41.7% |
|
New Listings |
151 |
159 |
5.3% |
|
Active Inventory (# of homes) |
211 |
117 |
-44.5% |
|
Months’ Supply of Inventory |
2.0 |
1.0 |
-50% |
SUMMARY: The number of new listings is up 5.3% from last year and the average sale price is up 8.5%.
The number of townhomes and condos on the market is down by 45% from last year and when a listing
is placed on the MLS, it gets “snatched” up quickly.
CONDITION: It is still a seller’s market for all types of homeowners; single family, townhomes, and
condos.
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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