Monthly Indicators – SOUTHEAST FLORIDA – December 2021 –
Data courtesy of floridarealtors.org
Beaches MLS Service Area:
Broward | Palm Beaches | St Lucie
The 2021 housing market was one for the history books. After three consecutive months of increases recently, existing home sales are on pace to hit their highest level in 15 years, with an estimated 6 million homes sold in 2021 according to the National Association of REALTORS®. Sales prices reached new heights, inventory hit rock bottom, and homes sold in record time, often for well above asking price. Mortgage rates, which began the year at historic lows, remain attractive, and homeowners who choose to sell in the coming months can expect to see plenty of buyer activity due to pent-up demand during the pandemic.
New Listings decreased 15.8 percent for Single Family homes and 15.7 percent for Townhouse/Condo homes. Pending Sales decreased 8.8 percent for Single Family homes but increased 2.4 percent for Townhouse/Condo homes. Inventory decreased 48.3 percent for Single Family homes and 62.5 percent for Townhouse/Condo homes.
Median Sales Price increased 18.2 percent to $477,500 for Single Family homes and 16.5 percent to $250,500 for Townhouse/Condo homes. Median Time to Contract decreased 29.4 percent for Single Family homes and 61.1 percent for Townhouse/Condo homes. Months Supply of Inventory decreased 52.2 percent for Single Family homes and 72.3 percent for Townhouse/Condo homes.
Looking ahead, experts anticipate many of the housing market trends of 2021 will continue in 2022, albeit at a more moderate level. Strong buyer demand and inventory shortages are likely to persist over the next year. Home sales are projected to remain strong but will be tempered by the limited supply of homes, higher sales prices, and rising interest rates, with the Federal Reserve planning multiple rate hikes in the new year. Price growth is expected to slow somewhat as a result, but affordability will likely remain a top constraint for some homebuyers.
For a detailed PDF with full market stats, please request one by filling out the form here: click here.
To sign up for the newsletter, please click here.
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
How can I help you?
Luxury Real Estate Services for Palm Beach County, Florida.
*** Listing Specialist in Palm Beach County, including: Jupiter, Juno Beach, Palm Beach Gardens, North Palm Beach, West Palm Beach, Palm Beach, Jupiter Island.
*** Serving Buyers by referral throughout Palm Beach County.
*** Offering expert real estate advice to everyone, and referrals to local real estate experts all over the world.
Find the Value of Your Home: Click here.
Find Your Next Home: Click here.
Search for New Construction: Click here.
Sign Up for Newsletter: Click here.
Download my App: Click here.