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The Honest Broker: June Statistics show Market Stabilization

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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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