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July Statistics show Market Favor Shifting from Sellers

The Honest Broker :Associations and Qualifications of Emotional Support Animals (ESA

July Statistics show Market Favor Shifting from Sellers

 BY: DIANE LOTT, BROKER    

 PARADISE FOUND REALTY

Single Family Homes

Single Family Homes

        JUL 2022

       JUL 2021

      % Change

Closed Sales

             136

           256

          -46.9%

Ave. Sale Price

         $811,762

     $679,242

            19.5%

Median Time to Sale

         54 Days

       55 Days

            -1.8%

New Listings

             263

           248

              6.0%

Active Inventory (# of homes)

             493

           305

            61.6%

Months’ Supply of Inventory

              2.6

            1.2

          116.7%

SUMMARY:  Over a year period, the market demonstrates stabilization since Sept. 2021.  New Listings, Active Inventory and Supply are all up providing more choice for buyers and sellers competing for the buyer pool. 

CONDITION: :  Stabilizing Market with a shift towards the buyer as reflected by increasing inventory and slowing of sales.  The market slightly favors the seller but is equalizing.  Closed Sales are down by 46% from July 2021 while the number of homes entering the market have increased by 61% from the same time last year. Sellers are beginning to compete a bit more for the pool of available buyers. Sellers have been lowering their asking prices due to multiple reasons; inflation and rising interest rates amid buyer “cool down”.

TOWNHOMES & CONDOS

Townhomes & Condos

       JUL 2022

       JUL 2021

        % Change

Closed Sales

            78

             110

             -29.1%

Ave. Sale Price

        $299,794

        $267,182

               12.2%

Median Time to Sale

          54 Days

           58 Days

               -6.1%

New Listings

           117

            108

                8.3%

Active Inventory (# of homes)

           198

            131

               51.1%

Months’ Supply of Inventory

            2.0

             1.1

               81.1%

SUMMARY:  Closed Sales have decreased for the past 4 months. Increased inventory and supply of listings are providing more competition amongst buyers.

CONDITION:  Stabilizing Market with a shift towards the buyer as reflected by increasing inventory and slowing of sales. 

 

Be Well!

Diane

Diane Lott, Broker

Owner: Paradise Found Realty

Paradise Found Realty, Inc. of Palm City  

Your concierge real estate company.  Call for your home visit today:  954-294-5060

Call to schedule a visit today:    954-294-5060

Email:  Diane@ParadiseFoundRealtyFl.com

Website:  www.ParadiseFoundRealtyFl.com

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