Florida Single Family Homes October 2021 Market Report
The Florida Single Family Home market activity was weaker than last October. Mostly because of the low inventory of available homes as well as the rapid appreciation of prices. Though, I do see some indications that the inventory may soon start increasing. Closed sales were down by 6.8% (were down by 1.3% in September). New sales under contract (new pending sales) were down by 3.6% (were down by 6.1% in September).
Prices, however, continued to rise. The median sales price rose by 17.7% (it was up by 18.3% in September). And, the average sales price was up by 12.9% (it was up by 16.3% last month).
The inventory of available homes for sale decreased by 29.9% from last year. This represents only a 1.3 month supply of inventory. Florida remains in an extreme seller’s market with a major advantage for sellers. (October 2020 had a 2.1 months supply) A balanced market favoring neither buyers nor sellers is considered to be one with a 6 to 7 month supply of inventory.
Previous Florida real estate market report posts.
Recent Florida Market Report Posts:
- Florida Townhouses and Condos October 2024 Market Report
- Florida Single Family Homes October 2024 Market Report
- Florida Townhouses and Condos 2024 3rd Quarter Report
- Florida Single Family Homes 2024 3rd Quarter Report
- Florida Townhouses and Condos September 2024 Market Report
- Florida Single Family Homes September 2024 Market Report
To view the latest set of reports from Florida Realtors for the state of Florida, Martin County, and Saint Lucie County, please visit GabeSanders.com and select Market Data.
Market information is courtesy of Florida Realtors Research. For additional information and historical archives please visit the Florida Realtors Research page.
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