The Florida Realtors Association released the finalized market statistics from September 2020 last week outlining the Florida Housing Market.
Here is what you need to know.
Single-Family Homes: For single-family homes, there were over 28,000 homes sold in Florida with a median sale price of $300,000, which is a 13.2% increase year over year. The average time to contract was just 23 days compared to 39 days in September 2019. Additionally, there were 30,673 new homes listed and 30,829 new pending sales.
Townhomes/Condos: Last month, 11,290 townhouses and condos were sold, a 25.3% year over year increase for the month of September. The median sale price on these homes was $217,500, a 12.7% increase from last year. The median time to sell was 79 days, a 16% year over year decrease. There were 14,285 new listings and 13,016 pending sales.
- Miami-Dade County: Single-family homes jumped 19.3% with the median sales price increasing 15.2% to $435,000, and sales were especially strong in the luxury market. Sales of townhomes and condos increased as well with a median sales price increase of 8.2% to $265,000.
- Broward County: Single-family homes rose 24.9% with the median sales price increasing 15.6% to $425,000, and home sales in the luxury market surged 204%.
- Palm Beach County: Palm Beach County saw the highest rise in sales of single-family homes, rising 28.6% year over year with a median sales price of $400,000. Townhomes and condos also rose 28.8% with the median sales price of $206,250, up 9.4% from September 2019.
Key Takeaway: It’s a Seller’s Market.
With historically low interest rates, low housing inventory, and an increase in homebuyers seeking lifestyle changes, now is the perfect time to sell your home. Sellers who list are seeing their homes sell fast. Current home inventory cannot keep up with the demand, and some homes are getting offers before potential buyers even see the home in person.
Then, get in touch today to see how BHG can help make the selling process a breeze.