The Honest Broker: MARKET WATCH For September 2021

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

*The highest compliment you can give is when you feel you can refer a friend…
  Hope to see them soon!

Paradise Found Realty, Inc. of Palm City

website:  www.ParadiseFoundRealtyFl.com

Email:  diane@paradisefoundrealtyfl.com

Phone:  954-294-5060

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