Florida Residential Home Sales Up, Inventory Shrinks

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Data released by the Florida Realtors shows that the number of single-family residential home sales (78,353) increased 23.1% in the first quarter of 2021 when compared to the number of homes sold (65,602) in first quarter in 2020.

The increase continues a hot resale market which began during the third quarter of 2020 with a 13.7% increase followed by a 23.6% in forth quarter of 2020.

Prices also saw double digit increases during the first quarter of 2021. The median price increased 17.6% to $317,500 in 2021 from $270,000 in 2020. Also, the average price increased 31.7% to $481,591 in 2021 from $365,765 in 2020.

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