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By Marla Martin<\/div><\/div>\n

Florida Realtors\u2019 latest data: Single-family home sales in 2020 up 5.8% year-over-year, median price at $290K up 9.6%. Condo-townhouse sales up 2.5%, median price at $215K, up 12% from 2019. Chief Economist O\u2019Connor: \u201cSales of Florida homes in the 4Q were very strong.\u201d<\/span><\/span><\/span><\/p>\n<\/div>\n

ORLANDO, Fla. \u2013 Despite the ongoing COVID-19 pandemic and resulting economic challenges, Florida\u2019s housing market wrapped up 2020 with more sales, higher median sale prices and more pending inventory compared to the year before, according to the latest housing data released by Florida Realtors\u00ae<\/span><\/span><\/span><\/span>. <\/em><\/span><\/span><\/p>\n

\u201cFor much of 2020, our homes became the hub for our daily lives, with people working remotely, children taking classes online, and many restaurants and entertainment options on lockdown due to the pandemic,\u201d says 2021 Florida Realtors President Cheryl Lambert, <\/span><\/span>broker-owner with Only Way Realty Citrus in Inverness. \u201cIt\u2019s a testament to Florida\u2019s resilient housing market and ongoing buyer demand that home sales at the end of the year topped 2019\u2019s totals. And with mortgage rates still historically low, buyer interest remains high into 2021 \u2013 but record low for-sale inventory levels continue to put upward pressure on prices and availability.\u201d<\/span><\/span><\/span><\/span><\/p>\n

4Q 2020<\/span><\/span><\/h3>\n
Statewide closed sales of existing single-family homes totaled 86,543 in the fourth quarter of 2020, up 23.6% compared to the year-ago figure, according to data from Florida Realtors research department in partnership with local Realtor boards\/associations. Closed sales typically occur 30 to 90 days after sales contracts are written.<\/span><\/span><\/p>\n
\u201cSales of Florida homes in the fourth quarter were very strong compared to a year ago,\u201d says Florida Realtors Chief Economist Dr. Brad O\u2019Connor. \u201cMeanwhile, there\u2019s a constrained supply of inventory (active listings), which we\u2019ve been seeing for some time. That shortage, coupled with the very low mortgage rates that are helping to drive buyer demand, keep pushing home values upward.\u201d<\/span><\/span><\/span><\/p>\n
The statewide median sales price for existing single-family homes for 4Q 2020 was $<\/span>306,000, up 14.6% from 4Q 2019. New pending sales for existing single-family homes for the quarter rose 22.2% compared to a year ago, while new listings were up 3.5% from 4Q 2019.<\/span><\/span><\/p>\n
Looking at Florida\u2019s year-to-year comparison for sales of condo-townhouses, a total of 35,865 units sold statewide in 4Q 2020, up 29.4% compared to the same period a year earlier. The statewide median price for condo-townhouse properties for the quarter was $226,000, up 15% over the previous year. New pending sales for condo-townhouses for 4Q 2020 increased 30.9% compared to a year ago, while new listings were up 5.9% from the same quarter the previous year.<\/span><\/span><\/p>\n
Year End 2020<\/span><\/span><\/h3>\n
Statewide closed sales of existing single-family homes totaled 310,378 at the end of 2020, up 5.8% compared to the 2019 figure, according to Florida Realtors data.<\/span><\/span><\/p>\n
Chief Economist O\u2019Connor noted that by the end of the year, the drop-off in Florida\u2019s housing market from February into early May \u2013 due to COVID-19 \u2013 had not only leveled out, but sales outpaced the previous year in both the single-family homes and condo-townhouse categories.<\/span><\/span><\/p>\n
\u201cWe\u2019ve seen a substantial increase in the dollar volume of sales in 2020, due to increasing sales, rising prices and a greater share of our sales being among the luxury tiers this year (2020) vs. 2019,\u201d he says. \u201cFor all residential property types, we were up 20.3% to over $160 billion (total of $162.3 billion) in dollar volume in sales of existing homes in 2020. Florida totaled $124.6 billion in volume in single-family home sales in 2020, up 22.5% from 2019, while condo-townhouse sales reached $36.2 billion in volume, up 13.7% from the previous year.\u201d<\/span><\/span><\/p>\n
Looking to 2021, O\u2019Connor said he expects the trends from the end of 2020 to continue. <\/span><\/span><\/span><\/p>\n
\u201cI think we will continue to have robust sales growth,\u201d he says. \u201cAs we get closer to vaccination really making a dent in the threat from COVID-19, we might see more people starting to consider upgrading or changing to a different home to take advantage of interest rates while they remain in the low to mid-3% range \u2013 which is what most forecasters currently predict.\u201d<\/span><\/span><\/p>\n
The statewide median sales price for single-family existing homes at year\u2019s end was $290,000, up 9.6% from the previous year. New pending sales for existing single-family homes rose 9.2% at the end of 2020 compared to the previous year, though new listings for single-family homes dropped (-2.8%) from a year ago. <\/span><\/span><\/p>\n
Looking at Florida\u2019s year-to-year comparison for sales of condo-townhouses, a total of 119,336 units sold statewide in 2020, up 2.5% over 2019. The statewide median price for condo-townhouse properties at the end of the year was $215,000, up 12% from year-end 2019. New pending sales for condo-townhouse units for the end of 2020 increased 6.2% compared to a year ago, while new listings for condo-townhouses rose 1.1% from year-end 2019.<\/span><\/span><\/p>\n
At the end of 2020 and also for 4Q 2020, inventory (active listings) for single-family homes stood at a 1.8-months\u2019 supply, while inventory for condo-townhouse properties was at a 4.2-months\u2019 supply, according to Florida Realtors.<\/span><\/span><\/p>\n
The interest rate for a 30-year fixed-rate mortgage averaged 3.11% for 2020, down significantly from the previous year\u2019s average of 3.94%, according to Freddie Mac. <\/span><\/span><\/p>\n
To see the full statewide housing activity reports, go to Florida Realtors Tools and Research section<\/a>. Realtors also have access to local market data (password protected) through Florida Realtors\u2019 SunStats resource<\/a>. <\/span><\/span><\/p>\n
\u00a9 2021 Florida Realtors\u00ae<\/span><\/span><\/p>\n<\/div><\/div>\n
Go to Source<\/a>
\nAuthor: marlam<\/p>\n","protected":false},"excerpt":{"rendered":"
By Marla Martin Florida Realtors\u2019 latest data: Single-family home sales in 2020 up 5.8% year-over-year, median price at $290K up 9.6%. Condo-townhouse sales up 2.5%, median price at $215K, up 12% from 2019. Chief Economist O\u2019Connor: \u201cSales of Florida homes in the 4Q were very strong.\u201d ORLANDO, Fla. \u2013 Despite the ongoing COVID-19 pandemic and resulting economic challenges, Florida\u2019s housing market wrapped up 2020 with more sales, higher median sale prices and more pending inventory compared to the year before, according to the latest housing data released by Florida Realtors\u00ae. \u201cFor much of 2020, our homes became the hub for our daily lives, with people working remotely, children taking classes online, and many restaurants and entertainment options on lockdown due to the pandemic,\u201d says 2021 Florida Realtors President Cheryl Lambert, broker-owner with Only Way Realty Citrus in Inverness. \u201cIt\u2019s a testament to Florida\u2019s resilient housing market and ongoing buyer demand that home sales at the end of the year topped 2019\u2019s totals. And with mortgage rates still historically low, buyer interest remains high into 2021 \u2013 but record low for-sale inventory levels continue to put upward pressure on prices and availability.\u201d 4Q 2020 Statewide closed sales of existing single-family homes totaled 86,543 in the fourth quarter of 2020, up 23.6% compared to the year-ago figure, according to data from Florida Realtors research department in partnership with local Realtor boards\/associations. Closed sales typically occur 30 to 90 days after sales contracts are written. \u201cSales of Florida homes in the fourth quarter were very strong compared to a year ago,\u201d says Florida Realtors Chief Economist Dr. Brad O\u2019Connor. \u201cMeanwhile, there\u2019s a constrained supply of inventory (active listings), which we\u2019ve been seeing for some time. That shortage, coupled with the very low mortgage rates that are helping to drive buyer demand, keep pushing home values upward.\u201d The statewide median sales price for existing single-family homes for 4Q 2020 was $306,000, up 14.6% from 4Q 2019. New pending sales for existing single-family homes for the quarter rose 22.2% compared to a year ago, while new listings were up 3.5% from 4Q 2019. Looking at Florida\u2019s year-to-year comparison for sales of condo-townhouses, a total of 35,865 units sold statewide in 4Q 2020, up 29.4% compared to the same period a year earlier. The statewide median price for condo-townhouse properties for the quarter was $226,000, up 15% over the previous year. New pending sales for condo-townhouses for 4Q 2020 increased 30.9% compared to a year ago, while new listings were up 5.9% from the same quarter the previous year. Year End 2020 Statewide closed sales of existing single-family homes totaled 310,378 at the end of 2020, up 5.8% compared to the 2019 figure, according to Florida Realtors data. Chief Economist O\u2019Connor noted that by the end of the year, the drop-off in Florida\u2019s housing market from February into early May \u2013 due to COVID-19 \u2013 had not only leveled out, but sales outpaced the previous year in both the single-family homes and condo-townhouse categories. \u201cWe\u2019ve seen a substantial increase in the dollar volume of sales in 2020, due to increasing sales, rising prices and a greater share of our sales being among the luxury tiers this year (2020) vs. 2019,\u201d he says. \u201cFor all residential property types, we were up 20.3% to over $160 billion (total of $162.3 billion) in dollar volume in sales of existing homes in 2020. Florida totaled $124.6 billion in volume in single-family home sales in 2020, up 22.5% from 2019, while condo-townhouse sales reached $36.2 billion in volume, up 13.7% from the previous year.\u201d Looking to 2021, O\u2019Connor said he expects the trends from the end of 2020 to continue. \u201cI think we will continue to have robust sales growth,\u201d he says. \u201cAs we get closer to vaccination really making a dent in the threat from COVID-19, we might see more people starting to consider upgrading or changing to a different home to take advantage of interest rates while they remain in the low to mid-3% range \u2013 which is what most forecasters currently predict.\u201d The statewide median sales price for single-family existing homes at year\u2019s end was $290,000, up 9.6% from the previous year. New pending sales for existing single-family homes rose 9.2% at the end of 2020 compared to the previous year, though new listings for single-family homes dropped (-2.8%) from a year ago. Looking at Florida\u2019s year-to-year comparison for sales of condo-townhouses, a total of 119,336 units sold statewide in 2020, up 2.5% over 2019. The statewide median price for condo-townhouse properties at the end of the year was $215,000, up 12% from year-end 2019. New pending sales for condo-townhouse units for the end of 2020 increased 6.2% compared to a year ago, while new listings for condo-townhouses rose 1.1% from year-end 2019. At the end of 2020 and also for 4Q 2020, inventory (active listings) for single-family homes stood at a 1.8-months\u2019 supply, while inventory for condo-townhouse properties was at a 4.2-months\u2019 supply, according to Florida Realtors. The interest rate for a 30-year fixed-rate mortgage averaged 3.11% for 2020, down significantly from the previous year\u2019s average of 3.94%, according to Freddie Mac. To see the full statewide housing activity reports, go to Florida Realtors Tools and Research section. Realtors also have access to local market data (password protected) through Florida Realtors\u2019 SunStats resource. \u00a9 2021 Florida Realtors\u00ae Go to Source Author: marlam<\/p>\n","protected":false},"author":4,"featured_media":4741,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/4740"}],"collection":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/comments?post=4740"}],"version-history":[{"count":0,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/4740\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media\/4741"}],"wp:attachment":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media?parent=4740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/categories?post=4740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/tags?post=4740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}