The Honest Broker: June Statistics show Market Stabilization
BY: DIANE LOTT, BROKER PARADISE FOUND REALTY
Single Family Homes
|
Single Family Homes |
JUN 2022 |
JUN 2021 |
% Change |
|
Closed Sales |
185 |
275 |
-32.7% |
|
Ave. Sale Price |
$809,923 |
$790,716 |
-2.4% |
|
Median Time to Sale |
55 Days |
59 Days |
-6.8% |
|
New Listings |
265 |
277 |
-4.3% |
|
Active Inventory (# of homes) |
429 |
304 |
41.1% |
|
Months’ Supply of Inventory |
2.2 |
1.2 |
83.3% |
SUMMARY: Over a year period, the market demonstrates stabilization since Sept. 2021. The most significant statistic is that the sale prices of homes have also stabilized, although showing a small decline by 2.4%. Currently, the statistics do not show prices elevating in the manner that it had been in the months prior. Inventory is also going up, by 41%, which is a factor in slowing home price elevation and provides more choices for buyers.
CONDITION: The market slightly favors the seller but is equalizing. Closed Sales are down by 33% from June 2021 while the number of homes entering the market have increased by 41% from the same time last year. Sellers are beginning to compete a bit more for the pool of available buyers. Inflated prices may no longer be evident.
TOWNHOMES & CONDOS
|
Townhomes & Condos |
JUN 2022 |
JUN 2021 |
% Change |
|
Closed Sales |
99 |
134 |
-26.1% |
|
Ave. Sale Price |
$358,760 |
$255,019 |
40.7% |
|
Median Time to Sale |
51 Days |
61 Days |
-16.4% |
|
New Listings |
127 |
120 |
5.8% |
|
Active Inventory (# of homes) |
187 |
128 |
46.1% |
|
Months’ Supply of Inventory |
1.8 |
1.1 |
63.6% |
SUMMARY: Closed Sales have decreased for the past 3 months. The average selling price has elevated 41% from the same point last year. Increased inventory and listings are providing more competition amongst buyers.
CONDITION: Stabilizing Market 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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