The Honest Broker: MARKET WATCH For September 2021
BY: DIANE LOTT, BROKER PARADISE FOUND REALTY
|
Single Family Homes |
SEP 2020 |
SEP 2021 |
% Change |
|
Closed Sales |
252 |
189 |
-25.0% |
|
Ave. Sale Price |
$526,346 |
$641,592 |
21.9% |
|
Median Time to Sale |
67 Days |
56 Days |
-16.4% |
|
New Listings |
257 |
217 |
-15.6% |
|
Active Inventory (# of homes) |
538 |
290 |
-46.1% |
|
Months’ Supply of Inventory |
2.6 |
1.2 |
-53.8% |
SUMMARY: The number of homes and the supply of homes on the market are down significantly by 46% or greater. Also, there is a decrease of new listings coming on the market from August 2021 at 8% to 16% in September 2021.
CONDITION: Seller’s Market as reflected by the increased prices and diminished inventory. Selling price of homes has increased to almost 22% 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 |
SEP 2020 |
SEP 2021 |
% Change |
|
Closed Sales |
121 |
118 |
-2.5% |
|
Ave. Sale Price |
$230,661 |
$312,183 |
35.3% |
|
Median Time to Sale |
74 Days |
50 Days |
-32.4% |
|
New Listings |
142 |
96 |
-32.4% |
|
Active Inventory (# of homes) |
299 |
117 |
-60.9% |
|
Months’ Supply of Inventory |
3.3 |
1.0 |
-69.7% |
SUMMARY: Closed Sales are approximately what they were last year. The average selling price has increased significantly to 35% 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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