Monthly Indicators –
SOUTHEAST FLORIDA –
April 2021 –
Data courtesy of floridarealtors.org
Beaches MLS Service Area:
Broward | Palm Beaches | St Lucie
April was another strong month for home sales. The busy spring market continues to see many multiple offer situations driving sales prices above asking price. With such strong activity, by the time a property sale closes, the market may have already moved higher than that sold price suggests. Such markets can create stress and frustration for prospective homebuyers, who are frequently having to submit offers on multiple properties before they are able to secure a purchase.
New Listings increased 64.3 percent for Single Family homes and 94.9 percent for Townhouse/Condo homes. Pending Sales increased 135.1 percent for Single Family homes and 310.6 percent for Townhouse/Condo homes. Inventory decreased 63.8 percent for Single Family homes and 48.3 percent for Townhouse/Condo homes.
Median Sales Price increased 22.3 percent to $440,000 for Single Family homes and 19.7 percent to $227,500 for Townhouse/Condo homes. Median Time to Contract decreased 59.3 percent for Single Family homes and 27.8 percent for Townhouse/Condo homes. Months Supply of Inventory decreased 73.3 percent for Single Family homes and 63.3 percent for Townhouse/Condo homes.
In the spirit of the great Wayne Gretzky, buyers, sellers, and their agents are all trying their best to skate to where the puck, or rather, the housing market, is going, not where it has been. While housing affordability remains an area to watch as prices continue to rise, strong buyer demand and limited housing supply show no signs of easing soon, pointing to a continuation of this market trend through spring and into summer.
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Heather E. Towe, P.A.
REALTOR®, CRS®, CLHMS®, e-PRO®, PSA®
561-806-8550 | heather.towe.gmail.com
Licensed to Sell Real Estate in Florida
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