The real estate question I’m hearing more than any other is, “Are prices rising?” and the answer is a resounding “Yes”. That’s true not just locally but statewide as well. The Florida Association of Realtors recently released sales figures for Q2 2021 which found that statewide the median sales price for single-family existing homes increased by nearly 25% year over year with the median price at $345,000. In our market as of the end of June the median sales price for single family homes was $428,658, up 27.3% from June of 2020. And as June drew to a close, our number of months inventory supply of home listings was down 75.8% from 2020.
This week’s activity reflected that continued insufficient supply to meet demand as we closed six sales but wrote up only three new contracts. Tropical Storm Fred passing directly over the Cape on Monday may have also contributed to slower sales activity for the week. Sellers added three new listings but made only one price change which was a price increase. Our inventory shed two, closing the week at 121 with only 32 houses and 89 lots listed for sale in the Cape San Blas, Indian Pass and C-30 Corridor MLS market.
As you can see, we still need inventory, so if you’re thinking of selling call or text me at 850-227-5197 or drop an email to [email protected] and we’ll get started. I really appreciate your taking a break from being out and about to stop by today. Have a great week and hope to see you back here soon.