Florida home sales and median prices up in Q1 2021

Florida’s real estate market saw more closed sales, higher median prices and more new pending sales in the first quarter of 2021 compared to a year ago, according to the latest housing data produced by Florida Real Estate Agents. The report also found that closed sales of single-family homes statewide totaled 78,353 in Q1 2021, up 19.4% from the Q1 2020 level.

“A year ago, in early March, the first cases of coronavirus were confirmed in Florida,” said 2021 Florida Realtors President Cheryl Lambert, broker-owner of Only Way Realty Citrus in Inverness. “Looking back to this first quarter, given how much we’ve all been through with the pandemic, and where we are today in the first quarter of 2021, it’s almost impossible to believe. As we continue to In dealing with the COVID-19 pandemic and following guidelines to stay safe and protect our communities, the housing market in Florida remains strong. But, with housing demand exceeding the available supply, it continues to climb. house prices – and tightens the existing real estate market even further. “

Meanwhile, the statewide median selling price for existing single-family homes in Q1 2021 was $ 317,500, up 17.6% from the same period a year ago. The statewide median price for townhouse condominium properties in the quarter was $ 235,422, up 14.8% from last year’s figure. The median is the midpoint; half of the houses sold more, half cheaper.

“New listings of homes for resale were slightly lower in January and February than they were a year ago before the pandemic, but were offset by a decent increase in March,” the chief economist said from Florida Realtors, Dr. Brad O’Connor. “For the quarter as a whole, there were only 2.5% fewer new listings of single-family homes than in the first quarter of 2020, and more in the category of condos and townhouses, we have saw a 5% increase.

“Most people I talk to are surprised to learn that, other than the first two months of the pandemic, the rate of new registrations has been pretty close to what it was before the pandemic. understandable reaction, given the weakness of our stocks. are. “

Click here to learn more about the report.

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