Published 1st November 2021

October ‘oracle” From The Resort Area…

Total sales during October were up 8.7% from September at 501 closings compared to 461. Year on year sales were also 35% higher than the 371 closings during October 2020. The resort area median price stands at $275,875 which is an increase of  1.1% from last months median of $272,763 and an increase of 11.7% from the October 2020 median of $246,965. Inventory levels are down by 9.6% month on month from 586 listings in September to 534 this month while year on year inventory levels are down by 73% from the 1,461 listings back in  October 2020. The average days on market that a home takes to sell is down 2 from last month at 89 which was also down 8 days from the 97 days of a year ago. A sold home achieved on average 99.2% of the listed price which was up from 97.6% a year ago. The total number of homes under offer/contract awaiting closure stands at 799 which compares to the 820 home pipeline recorded last month and the 734 pipeline total of October 2020. During the month 64 homes withdrew from the market having failed to sell.  Total resort area inventory levels when considered against pace of sales indicate a 1 month supply of home availability during October which is down on the 1.3 month supply of September and much below the 3.9 month supply level calculated back in October 2020.

Orlando…

Orlando’s median home price dropped by $2,000 from last month with the median home price recorded as $318,000, down from the record high of $320,000 set in August 2021. The median price has made steady gains over the past 11 months from when it recorded as $269,950 in October 2020. Overall sales during September were down 5.25% in the Orlando metro market, with a total of 3,879 closings. Homes that sold spent an average 27 days on the market during the month, an 8% increase from August. Inventory edged upward for the fifth consecutive month, rising by 0.8% from August to September, with a total of 3,667homes listed during the month.  O.R.R.A members sold 3,789 homes which was a decrease of 5.25% from the 3,999 sales of August 2021 but total closings were still 9% higher than back in September 2020.  Interest rates showed little change, and remain low. The average interest rate in September was 2.86%, an increase of .7% over August 2021.  Twenty seven distressed homes (bank-owned properties and short sales) accounted for .7% of all closings which represents a 37%drop from September 2020, when 43 distressed homes sold.  Orlando area inventory rose .8% from August 2021 to September 2021 from 3,638 to 3,667 homes with overall levels 39% lower than during September 2020. The supply of homes moved up by almost a month during September while a balanced market is generally considered to offer a six month level of inventory supply.  The number of new listings decreased from September 2021 from August 2021 by 7.9% from 4,375 homes to 4,026 homes.

Florida… 

The state’s housing market reported higher median prices, a rise in cash buyers and constrained inventory levels during September compared to a year ago, according to new housing data from Florida Realtors. According to the monthly report issued by the Florida Realtors Research Department, the statewide median sales price for an existing single family home in September was $355,000, up 18.3% from the previous year. The report also found that last month’s statewide median price for condo and townhome units was $255,000, up 17.2% from  September 2020. In total, closed sales of single family homes statewide totaled 28,302, down 1.3% year on year, while existing condo and townhome sales totaled 11,845, up 4.9% over September 2020.  The percentage share of closed sales that were cash purchases was up when compared to the previous year. During September existing single family home sales paid for in  cash were 38.5% year on year, while cash sales of condo and townhomes increased 22.9% . Meanwhile, the supply side of the market saw new listings and inventory remain restricted with new listings of single family homes up 2.2% year on year, the lowest increase since February 2021. New listings of condos and townhomes, meanwhile, declined on a year on year basis for the first time since January, falling by 7.3%. This slow down in new listings relative to the pace of sales has resulted in levels of inventory falling as the total inventory available for existing single family homes recorded a 1.3 month supply, while condo and townhomes offered a 1.7 month listing supply at the current sales pace.

U.S…

Home sales in the U.S. rebounded during September with existing home sales up 7% to a seasonally adjusted 6.29 million units from a month earlier, according to the National Associate of Realtors (N.A.R).  The increase in home sales was not unexpected since pending home sales in August, which lead to actual sales, was up by 8.1%.  Median existing home prices for all housing types stood at $352,800, up 13.3% from a year ago, but slightly down from previous month and the third straight month of declines.  Despite the downward trend, first time buyers represented 28% of total sales last month, the lowest amount since July 2015. Total housing inventory at the end of September amounted to 1.27 million units, down 0.8% from August and down 13.0% from a year ago (1.46 million). Unsold inventory records a 2.4 month supply at the current sales pace, down 7.7% from August and down from the 2.7 month level in September 2020.

By region existing home sales in the Northeast grew 5.5% in September, posting an annual rate of 770,000, an 8.3% decrease from September 2020. The median price in the Northeast was $387,200, up 9.2% from one year ago. Sales in the Midwest were up 5.1% to an annual rate of 1,440,000 during September which was a 2.7% fall from a year ago. The median price in the Midwest stood at $265,300, a 9.1% increase over September 2020. Existing sales in the South increased 8.6%, recording an annual rate of 2,770,000, unchanged from a year ago. The median price in the South was $307,500, a 14.8% rise from twelve months ago. Finally, sales in the West climbed 6.5% at an annual rate of 1,310,000 during September, down 3% from a year ago. The median price for the West stood at $506,300, up 8.3%from September 2020.

October 29th 2021 

 

1 G.B.P…Buys 1.378 U.S.D – 1 U.S.D…Buys 0.725 G.B.P
 
1 EURO…Buys 1.164 U.S.D – 1 U.S.D…Buys 0.858 EURO
 
1 CAN $…Buys 0.809 U.S.D – 1 U.S.D…Buys 1.235 CAN $
 
1 BRL $…Buys 0.177 U.S.D – 1 U.S.D…Buys 5.643 BRL $
 
U.S Prime Interest Rate = 3.25%

Team Donovan publish a monthly report on the 1st of each month for the benefit of Worldwide Florida absentee owners. If you are considering selling your own property now or in the future please do feel free to contact us, as we would be delighted to discuss the marketing of your home in more detail.

Published 1st June 2021

May ‘market numbers’ From The Resort Area…

A Resort area home that changed hands during May 2021 achieved on average 98.25% of the asking price after on average 100 days from offer to closing the latest report details.  The markets median price stood at $257,113 which was 8.2% higher than the $237,600 level of a year ago. Inventory overall across the market continued to fall and was down another 14.1% at 404 homes listed for sale compared to the 461 listings total in April. When compared to the one year ago level of 1,605 homes offered in the market the current inventory total reflects a fall of over 75% from then. During the month 69 homes were withdrawn from the market by owners compared to 76 last month and the 108 withdrawn a year ago.  Total closed sales stood at 520 which was down 7.8% from the 564 closings last month but 62% higher than the 196 total in May 2020 at the height of the pandemic effect last year. The number of homes under/offer contact stands at 870 which is 1.5% lower than the 883 total last month but 41% up on the 512 pending listings in May 2021.  Overall Inventory levels continued to fall during the month with the May pace of sales suggesting a 0.8 month supply of available inventory at the current sales pace which compares to a 1 Month supply last month and the very different 8.2 level recorded twelve months ago.

Orlando…

The pandemics largest impact on the Orlando housing market was during April 2020, the effect slowing sales considerably. Since then, inventory has continued to decline despite the high demand from buyers to produce an an all time low level twelve months later. There were major gains in sales year on year during April 2021, due to the pandemic effects of last year. Total available listings of 2,655 homes represented a a record low dating back to 1995, as far back as O.R.R.A data goes.  O.R.R.A members sold 4,081 homes during the month which was a 4.4% decrease from the 4,268 sales of March 2021.  Orlando listings spent an average 42 days on the market until contract, a drop of 12.5% from March 2021. The 50 distressed home sales during the month of bank owned and short sale properties accounted for 1% of all closings during April 2021, the same as the previous month. The Orlando housing market in general reported the second consecutive month of falling home sales with total Orlando inventory down 65% from 7,659 homes listed during April 2020 to just 2,655 homes this April. The number of new listings increased 7.6% from 3,959 in March 2021 to 4,258.  If all the available homes were to sell, it would currently take just three weeks at the current sales pace which compares to the six month supply level generally considered to represent a balanced market.  The median home price increased to $295,000 during April which was an increase of 3.5% from March 2021. The median home price stood at 11.9% higher than the $263,750 recorded in April 2020.

Florida… 

The Florida housing market in general also remained strong during April, with more closed sales, higher median prices, increased new pending sales and a higher pending inventory compared to a year ago, according to Florida Realtors® latest housing data. In the current market, the shortage of homes for sale coupled with intense buyer demand continued to push home prices higher. Closed sales of single family homes statewide during April totaled 33,264, a rise of 55.4% year on year, while existing condo and townhome closings totaled 17,330, up 130.9% from April 2020.  The statewide median sales price of an existing single family homes stood at $336,525, up 22.4% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. The April median price for condo and townhome properties was $250,000, up 19.6% from a year ago.  On the supply side active listings tightened further during April with existing single family at a 1.1 month supply while condo and townhome inventory offered a 2.3 month supply.

U.S…

The Nations sales of existing homes dropped 2.7% during April from March to a seasonally adjusted annualized rate of 5.85 million units, according to the National Association of Realtors. It was the third straight month of declines, the group noted. Sales were 33.9% higher than April 2020, but that comparison is an anomaly given that the housing market and economy shut down at the start of the pandemic. Housing then rebounded strongly last summer with overall sales still 11% higher than in April 2019.  The supply of homes for sale at the end of April was down 20%. There were 1.16 million homes for sale overall which represents a 2.4 month supply at the current sales pace with high demand and continued low supply pushing prices higher. The median price of an existing home that sold during April stood at $341,600, an increase of 19.1% from April 2020. This represents both the highest median price on record and the largest annual increase on record. Much of that large increase in the median price is due to the mix of homes being sold. There is far more activity on the higher end of the market, where supply is more plentiful, and very little activity on the low end, where the shortage is most acute. As an example, sales of homes priced between $100,000 and $250,000 were unchanged from a year earlier. Sales of homes priced between $750,000 and $1 million were up 146% from a year earlier, and sales of homes over $1 million increased 212%. Competition also continues to be intense, with homes selling in just 17 days, the fastest rate Realtors have ever recorded. Cash buyers represented 25% of market share which was up from 13% a year ago with investors comprising 17% of all the nations transactions. First time buyers comprised 31% of all purchases, a slight decline from the previous month. Sales of newly built homes were up 21% in March from February. Builders are benefitting from the shortage of existing homes for sale, but prices for new homes are also seeing sharp rises it was reported.

May 28th 2021 

 

1 G.B.P…Buys 1.414 U.S.D – 1 U.S.D…Buys 0.707 G.B.P

1 EURO…Buys 1.213 U.S.D – 1 U.S.D…Buys 0.823 EURO

1 CAN $…Buys 0.825 U.S.D – 1 U.S.D…Buys 1.211 CAN $

1 BRL $…Buys 1.190 U.S.D – 1 U.S.D…Buys 5.248 BRL $

U.S Prime Interest Rate = 4.25%

Team Donovan publish a monthly report on the 1st of each month for the benefit of Worldwide Florida absentee owners. If you are considering selling your own property now or in the future please do feel free to contact us, as we would be delighted to discuss the marketing of your home in more detail.

Published 1st May 2021  

April ‘arithmetic’ From The Resort Area… Total sales across the resort market of 564 represented a 234% increase on the 241 closings in April 2020 and were also 4.6% up on the 539 sales recorded last month. The number of homes under contract awaiting closure was 28 lower than last months total of 883 but 229% higher than the 386 total in April last year.  A home that sold in our market during April 2021 achieved on average 98.1% of its listed price and closed in an average 99 days from being listed. These numbers compare to 97.6%  and 98 days respectively in April 2020. The markets median price was 7% higher than twelve months ago moving from $238,438 to $255,306. The median price was also 0.7% higher than the $253,420 recorded last month. During April 76 homes were withdrawn from sale having failed to attract a buyer which compared to the 144 withdrawn listings during the corresponding month last year. Inventory levels overall have continued to fall with the current pace of sales indicating a 1 month supply of overall available inventory which was the same as last month but significantly below the 6.7 month level recorded during April 2020.

 
Orlando…
The number of homes listed for sale in the Orlando market was down  61% from March 2020. This continued decline from the prior month increases a tighter squeeze on a market with just 255,306 homes listed for sale.  Inventory is now at such low levels, it would currently take only three weeks to sell all the homes for sale in the market at the current sales pace. The median home price continued to rise during March at $285,000, a 12% increase from a year ago whilst interest rates continued to rise for a third consecutive month. The average interest rate in March 2021 stood at 3.07%, a 7%increase from February 2021.  O.R.R.A members sold 4,268 homes during March, an increase of 33% over March 2020.  Listings spent an average of 48 days on the market until contract during the month, a fall of 11% from March 2020. The 50 distressed sales sold during the month (bank-owned properties and short sales) accounted for 1% of all closings in March, a decrease of 38% from the 80 sold during March 2020.  The total Orlando area inventory was down 61% from 7,341 homes in March 2020 to just 2,878 homes a year later. The number of new listings was down 5% from 4,150 homes in March 2020 to 3,959 homes in March 2021. Converseley, the number of listings was up 19% from February.
Florida…
The Florida housing market continued its momentum during March, with more closed sales, higher median prices, increased pending sales and higher pending inventory compared to a year ago, according to Florida Realtors® latest housing data. The coronavirus was first detected in Florida on March 1, 2020.  Closed sales of single family homes statewide during March totaled32,819, up 23.3% year on year, while existing condo and townhome sales totaled 16,518, up 52.6% from March 2020.  The statewide median sales price for an existing single family home was $327,000 up 18.9% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last months statewide median price for condo and townhome units stood at $242,000, up 15.2% year on year. The March number of new pending sales was 48.2% higher for single family homes and 126.4%  up for condos and townhouses. On the supply side the Florida inventory of active listings remained constrained during the month with existing single family homes at a very low 1.2 month supply level while condo and townhomes inventory across the state offered a 2.8 month supply.
U.S…
Sales of previously occupied U.S. homes fell for the second consecutive month in March with so few on the market, and the fierce competition for those that do exist pushing prices to new highs.  Existing home sales fell 3.7% from February to a seasonally adjusted rate of 6.01 million annualized units, the National Association of Realtors reported. Sales were up 12.3% from March last year.  Homes typically sold in 18 days during the month, a record low and much faster than the average of 29 days recorded last March.  Sales are slowing despite the speed at which buyers are contracting on homes that enter the market, revealing surging demand in an ultra low inventory enviroment.   The inventory of unsold homes stood at 1.07 million at the end of March, only a slight improvement over the record low 1.03 million homes in February which was 28.2% down from levels a year ago. At the current sales pace, the March inventory of homes available for purchase suggests a 2.1 month supply which is well short of the six month supply economists suggest is needed for a balanced market. In February, the supply level was slightly lower at 2 months while the level in March last year stood at 3.3 months.  The U.S. median home price climbed 17.2% from a year ago to $329,100, an all time high.  Low mortgage rates remain a lure, providing stretched buyers with a measure of financial flexibility. Mortgage rates fell for a third straight week, with the benchmark 30 year home loan rate slipping below 3% to 2.97%, according to mortgage buyer Freddie Mac. At this time last year, the long term rates were at 3.3%.  Every region in the country suffered sales declines last month, representing a complete reversal of sales in March 2020.
April 30th 2021 
 
1 G.B.P…Buys 1.391 U.S.D – 1 U.S.D…Buys 0.718 G.B.P
 
1 EURO…Buys 1.208 U.S.D – 1 U.S.D…Buys 0.827 EURO
 
1 CAN $…Buys 0.814 U.S.D – 1 U.S.D…Buys 1.227 CAN $
 
1 BRL $…Buys 1.187 U.S.D – 1 U.S.D…Buys 5.344 BRL $
 
U.S Prime Interest Rate = 4.25%
Team Donovan publish a monthly report on the 1st of each month for the benefit of Worldwide Florida absentee owners. If you are considering selling your own property now or in the future please do feel free to contact us, as we would be delighted to discuss the marketing of your home in more detail.
March ‘movements’ From The Resort Area…
Resort area total inventory continued its steep year on year decline during March with the revised number of homes listed for sale down 62% from the 1,463 listings of a year ago to 551. Last months inventory levels were also down 32% from the 815 listings in February. The average days that a home takes to sell was unchanged from a year ago at 98 but one day longer than last month. A home that closed during March achieved an average of 97.6% of its listed price which was up slightly on the 97.5% in March 2020.  The markets median price was up 6.3% from twelve months ago rising from $237,496 to $253,420.  During March 89homes were withdrawn from the market having failed to sell which compared to 113 withdrawn in March 2020. Total sales during the month stood at 539 which compared to 401 sales in February 2021 and the 361 closings one year ago. As a forward indicator the total number of homes under offer/pending stand at 911which is 45.3% higher than the 499 pending total of a year ago and 43 homes higher than the 868 pipeline total last month. The markets current  pace of monthly sales when reviewed against total inventory suggests a 1 month supply of home availability in March which compared to a 2 Month supply in February and the 4 month  level recorded in March 2020.
Orlando…
Orlando Regional Realtors Association members sold 2,995 homes during February 2021, an increase of 19% compared to February 2020. The median sales price of $280,000  was up 12% from a year ago. The overall Orlando area inventory was down 50% from the 6,825 homes listed in February 2020 to 3,420. The total number of new listings was down 15% from 3,924 homes a year ago to 3,322 in February 2021.  The fall in overall inventory marks the lowest total inventory level seen since May 2005, putting an even tighter squeeze on a market that continues to see high demand. The total supply of homes offers a 1.1 month level at the current sales pace, less than half of what it recorded at in February 2020 when it was recorded as 2.7 months. A healthy balanced market is generally regarded as offering a six month supply level.  The median home price continued to rise, with the February median price reaching $280,000 up 2% from January. Orlando area listings spent on average 52 days on the market before coming under contract which was a fall of 10% from February 2020.
Florida… 
The Florida housing market in February saw more closed sales, higher median prices, more new pending sales and an increase in pending inventory when compared to a year ago, according to Florida Realtors® latest housing data. Closed sales of single family homes statewide totaled 23,947, a rise of 15.7% from twelve months ago, while existing condo townhome sales totaled 11,379, up 28.7% from February 2020. Condo and townhome sales totaled 11,379, representing a rise of 28.7% from February 2020. The statewide median sales price of an existing single family home was $314,900, up 16.6% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last months statewide median price of condo and townhome units was $233,240, a rise of 16.6% year on year. On the supply side overall inventory of active listings remained constrained during the month with existing single family homes indicating a 1.3 month supply while condo and townhome inventory detailed a 3.4 month level of inventory.
U.S…
 
The nations existing home sales declined during February, following two prior months of gains, according to the National Association of Realtors®. Month on month just one major region saw an increase during February, but all four U.S. regions recorded year on year gains. Total existing home sales, for all home styles, decreased 6.6% from January to a seasonally adjusted annual rate of 6.22 million. Sales year on year were up 9.1% from the one year ago level of 5.7 million. The nations median price of an existing home stood at $313,000, up 15.8% from the $270,000 recorded in February 2020 with price rises reported in all regions. Februarys price increase marked the 108th straight month of year on year gains.  Single family home sales decreased to a seasonally adjusted annual rate of 5.52 million during the month, down 6.6% from the 5.91 million level in  January, but up 8% from a year ago. The median price of an existing single family home stood at $317,100, a rise of 16.2%. Existing condominium and co-op sales saw a seasonally adjusted annual rate of 700,000 units during the month, down 6.7% from January but 18.6% higher than a year ago. The median existing condo price was $280,500, an increase of 12.3% from twelve months ago. Total housing inventory at the end of February amounted to 1.03 million units, unchanged from January but down 29.5% from the one year ago level of 1.46 million. Unsold inventory sits at a 2 month supply at the current sales pace, slightly up from Januarys 1.9 month supply but down from the 3.1 month level of February 2020. Properties typically remained on the market for 20 days, down from 21 days in January and 36 days in February 2020. Seventy four percent of all homes sold during the month were on the market for less than a month. First time buyers were responsible for 31% of all sales, down from 33% in January but up from 32% in February 2020. N.A.R 2020 Profile of Home buyers and sellers revealed that the annual share of first time buyers stood at 31%. Individual investors or second home buyers accounted for 17% of all homes sold during February, up from 15% in January and equal to the February 2020 percentage share. Cash sales accounted for 22% of all closings, up from 19% in January and 20% in February 2020. Distressed sales of foreclosures and short sales represented less than 1% of all closings which was equal to Januarys percentage but down from the 2% level of February 2020.
March 31st 2021 
 
1 G.B.P…Buys 1.376 U.S.D – 1 U.S.D…Buys 0.726 G.B.P
 
1 EURO…Buys 1.173 U.S.D – 1 U.S.D…Buys 0.852 EURO
 
1 CAN $…Buys 0.793 U.S.D – 1 U.S.D…Buys 1.259 CAN $
 
1 BRL $…Buys 1.173 U.S.D – 1 U.S.D…Buys 5.772 BRL $
 
U.S Prime Interest Rate = 4.25%
Team Donovan publish a monthly report on the 1st of each month for the benefit of Worldwide Florida absentee owners. If you are considering selling your own property now or in the future please do feel free to contact us, as we would be delighted to discuss the marketing of your home in more detail.
January ‘numbers ‘ From The Resort Area…
Resort area market inventory was down 10% from December with the total number of listings across the market falling from 1,306 homes to 1,187 which reflects a fall of 21.6% from the inventory level of 1,443 in January 2020.  Overall sales during the month totaled 323 which was up 30.1% from the 247 closings recorded a year ago but down 37.8 from the 415 sales in the final month of 2020.  The markets average price recorded a year on year increase of 6.9% from $234,688 twelve months ago to $250,800 in January 2021. A home that closed saw a 1 day reduction in time on the market from a year ago at 96 days whilst the average price achieved at closing when reviewed to listed price stood at 97.9% which compared to the 97.7% level achieved in Jan 2020. Total homes under offer/contract stood at 672 which was 40.3% up on the 479 pipeline of a year ago whilst the number of homes withdrawn from the market having failed to sell during the month totaled 129 which compared to 48 withdrawn a year ago. Based on current sales pace when considered against total inventory indicators suggest that the January number of homes for sale offered a 3.6 month supply at the current sales pace which compares a 3.2 month level last month and the 5.8 month supply recorded 12 months ago.
 
Orlando…
The overall median price of Orlando homes (all types combined) that sold during December was $275,000, which was 10.4% above the December 2019 median of $249,000. The median price for a single family home that changed hands during the month increased 12.1% from December 2019 to $296,950. The median price of condos increased 5.7% to $148,000 over the same period.  Members of O.R.R.A participated in a total 3,672 sales of all home styles combined during the month which was 21.1% up on the 3,033 sales of December 2019 and 25.2% higher than the 2,422 sales in December 2018. Sales of single family homes totaled 2,890 which represented an increase of 20.1% compared to December 2019, while condo sales of 401 recorded 35.9% year on year gains. The overall inventory of homes available for purchase during December was 4,875 which represented a decrease of 30.6% compared to December 2019 and a 12.7% fall from November 2020. By home type inventory levels detailed 42.6% fewer single family homes available for purchase but conversely a 12.1% increase in condos, year on year.  Homes that closed during December took an average 45 days to move from a listed status to pending. Pending sales during the month were up 20.9% compared to December 2019 but down 11.4% from November 2020. Orlandos current inventory  when considered against pace of sales, suggest a 1.3 month supply of homes during December compared to a 2.3 month supply in December 2019 and a 3.3 month supply in December 2018,  highlighting how overall inventory has decreased over these periods.
 
Florida… 
Sales of single family homes in Florida totaled 20,633 last month, down 9.9% compared to December 2019 Florida Realtors reported during the month. During December, statewide median sales prices for both single family homes and condo townhouse properties increased year on year for the 84th consecutive month. The statewide median sales price of an existing single family home was $255,000, up 4.2% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last months statewide median price of condo/townhouse units stood at $185,000, a rise of 2.8% from a year ago. The statewide condo/townhouse market saw closed sales totaling 8,156, down 11.4% compared to one year ago. Closed sales data continued to detail fewer short sales and foreclosures across the market as short sales of condo/townhouse properties declined 39.7% and foreclosures fell 33.7% year on year. Short sales of single family homes fell 49.8% while foreclosures were down 26.8%.  Statewide, active listings of existing single family homes have been on the rise since July, which has helped contribute to an overall  softening of price growth, and continued to climb during December with year end inventory up over 13% compared to levels at the end of 2019.
U.S…
The N.A.R summary of existing home sales data for the nation revealed that housing market activity during December rose a modest 0.7% from November 2020. Decembers existing home sales reached a 6.76 million seasonally adjusted annual rate, which was 22.2% up from December 2019. The pandemic took some steam out of a typically busy first quarter of 2020 but robust sales have then followed to close out the year. Total existing home sales rose to 5.64 million during 2020, up 5.6% from the prior year, with all regions showing net sales gains. The annual sales figure recorded is at the highest level seen since 2006 when existing home sales totaled 6.477 million. The national median existing home price for all housing types rose to $309,800 in December, up 12.9% from one year ago. Home prices have continued to escalate, with the December rise marking the 106th consecutive month of year on year gains.  Regionally, all four regions showed double digit price growth from one year ago. The Northeast had the largest gain of 19.% followed by the West with an increase of 14.2%. The Midwest showed a 13.7% increase whilst the South had the smallest price gain at 11.3% from December 2019. Decembers inventory figures were down 16.4% from the previous month to stand at 1.07 million homes available for sale. Compared with December of 2019, inventory levels nationally were down 23%. This marked the 19th consecutive month of net year on year declines in inventory. It will take 1.9 months to move the current level of inventory at the current sales pace whilst it takes approximately 21 days for a home nationally to go from listing to a contract in the current market compared to the one year ago period of 41days.
January 29th 2021
 
 
1 G.B.P…Buys 1.372 U.S.D – 1 U.S.D…Buys 0.728 G.B.P
 
1 EURO…Buys 1.213 U.S.D – 1 U.S.D…Buys 0.824 EURO
 
1 CAN $…Buys 0.781 U.S.D – 1 U.S.D…Buys 1.279 CAN $
 
1 BRL $…Buys 0.181 U.S.D – 1 U.S.D…Buys 5.497 BRL $
 
U.S Prime Interest Rate = 4.25%
Team Donovan publish a monthly report on the 1st of each month for the benefit of Worldwide Florida absentee owners. If you are considering selling your own property now or in the future please do feel free to contact us, as we would be delighted to discuss the marketing of your home in more detail.

December “data” from the Resort Area Market…

The final Team Donovan review of 2020 (a year like no other!) reveals that the the median price of a resort area home has climbed 6.9% over the past 12 months rising from $234,156 in December 2019 to $250,305. Overall inventory levels when compared to 12 months ago detail a fall of 125 listings from 1,431 homes a year ago to 1,306 in December 2020. The average days on market that a home takes to sell stood at 99 and was 1 higher than it took twelve months ago and 5 more days than the 94 achieved in November 2020. A home that sold during December secured on average 97.4% of its listed price which compares to 97.5% last month and 97.8% a year ago.  Total sales of 415 homes were little changed from the previous months 417 closings but were 116 sales up on the December 2019 total of 299. Meanwhile 79 homes were withdrawn from the market during the past month having failed to sell compared to the 50 withdrawn in the corresponding month one year ago. The pipeline number of homes under offer/pending closure stood at 550 as at the month end which was a 28.2% increase on the pipeline total twelve months ago.  The year end total number of listings when reviewed against current speed of sales suggests a 3.2 month home supply which was down from the 3.4 month level last month and also lower than the 5 month supply level recorded in December 2019. 

Looking Back … 2020… Key Performance Numbers At A Glance…  

MONTH ACTIVE A.D.O.M SP/LP EXP/WDN PEND SLD SUPPLY
               
January  1443 97 97.7 48 479 247 6.8
February 1385 98 97.4 54 594 264 4.9
March  1463 98 97.5 113 499 361 4.0
April 1614 97 97.2 144 386 241 6.7
May 1605 97 97.6 108 512 196 8.2
June 1480 96 97.4 113 689 300 4.9
July 1500 97 97.7 111 706 413 3.6
August  1561 97 97.8
108 733 369 4.2
September 1484 96 97.8
118 729 432 3.4
October 1461 97 97.6 130 734 371 3.9
November 1423 94 97.8 109 687 417 3.4
December  1306  99  97.4 79 550 415 3.2
  • Active = Active listings as at 25th of each respective month.
  • A.D.O.M = Average days that a home spends on the market.
  • SP/LP = Average price attained compared to asking price and expressed as a %.
  • EXP/WDN = Homes withdrawn from the market during the respective Month.
  • PEND = Homes recorded as under offer/contract at the respective month end.
  • SLD = Homes that sold or closed during the indicated Month.
  • Supply = The total supply of available inventory based on the respective months sales pace.
Closing Numbers … December 31st 2020…

1 G.B.P…Buys  1.364 U.S.D                   –              1 U.S.D…Buys  0.733  G.B.P

1 EURO…Buys  1.228 U.S.D                   –              1 U.S.D…Buys  0.814  EURO

 1 CAN $…Buys 0.785 U.S.D                   –              1 U.S.D…Buys  1.273  CAN $

***

U.S Federal Prime Interest Rate = 5.5%

Team Donovan publishes this updated monthly report on the 1st of each month for the benefit of all Worldwide Central Florida absentee owners. Our individual community reports are updated and published on the 15th of each month. If you are considering selling your own property in the future please do feel free to contact us, as we would be delighted to discuss the marketing of your own home in more detail.

November ‘numbers ‘ From The Resort Area…
The resort are median market price was up 8.2% from November 2019 at $248,425 which was also a 0.6% increase over October 2020. Total inventory of 1,423homes represents a decrease of 3.8% from last months 1,461 listed total and is just 6 homes higher than the 1,417 recorded total of a year ago.  A sold home on average attained 97.8% of its final listed price after spending on average 94 days in the market which compared to 97.5% and 97 days, respectively,  one year ago.  Total closings of 417 homes during the month were 32.8% up on the 314 sales recorded a year ago and also 12.4% more than the 371 sales last month. The pipeline number of homes awaiting closure under offer/pending stands at 687 which is 41% higher than the 487 total of a year ago but 47 homes below the 734 pipeline of last month. During the last 30 days 109 homes were withdrawn from the market having failed to sell whilst listed.  The November inventory when considered against pace of monthly sales indicates a 3.4 month supply total which compared to a 3.9 month level in October 2020 and the 4.5month total reported in November 2019.
Orlando…
The Orlando area avoided a typical fall sales slow down and, instead, showed increases in both homes closings and home prices during October, according to a new report from the Orlando Regional REALTOR® Association. Monthly report data revealed that the number of homes sold during October 2020 was up 25% compared to October 2019, with the median price up 11.6% during the same period.  Overall year on year home sales for 2020 were down 3% from last year, despite the impact from COVID-19.  In October 2020, the overall median price stood at $269,950. By type, single family homes recorded a median price of $290,000, 10%higher than in October 2019 but falling $5,500, from September 2020. The median price of condos showed smaller gains over the past 12 months with a 4.9% rise and 7.1%increase from September 2020, to stand at $150,000. For duplexes, townhomes, and villas, the October median price was up 9.2% to $238,000, an increase of 3.5% from September.  O.R.R.A members sold a total of 3,634 homes during October, an increase of 4% from September. Single family homes sales, accounted for 2,877 closings which was up 28.9% compared the October last year total of 2,232 and 4.6% from the previous months total sales of 2,750.  The 383 condos sold were up 6% from the 361closings twelve months ago but down by 4% from Septembers 399 sales.  Townhomes, duplexes, and villas had showed larger gains, with the 374 sales completed during October which was 19.5% higher than 2019. When comparing September and October, there was a 13.7% increase in units sold.  The number of single family homes listed for sale stood at 3,880 which was 37% below the 6,140 listings in October 2019 with more condos, townhomes, villas, and duplexes available than a year ago. Low inventory remains a top concern for REALTORS®, as the trend continued into October with the overall Orlando sales pace revealing a 1.61 month supply of homes listed in the market.  The average time spent listed stood at 48 days, which was the same as September. In October, there were 67 distressed homes listed, accounting for 1.84% of all Orlando area transactions. Tight inventory continues to play a role in the number of pending home sales which totaled 4,977 with October being the first month to show a decline in homes under contract since April. Compared to a year ago, there were 4,308 sales pending, revealing a 16% increase year on year of homes under contract awaiting closure. New contracts have also stayed steady from last month, with numbers rising from 3,400 to 3,409. That number is considerably up from the October 2019 total of 3,003.
Florida… 
The Florida housing market continued to be a bright spot in the states broader economy in October, even as the coronavirus pandemic showed no signs of easing. More closed sales, increased new pending sales, higher median prices and an increase in new listings were recorded statewide last month compared to October 2019, according to Florida Realtors® latest housing data. Existing single family home sales rose 26.9% compared to a year ago. with the statewide median sales prices for both single family homes and condo/townhome properties increasing year on year during October for the 106th consecutive month. The statewide median sales price for an existing single family home stood at $305,000, up 15.6% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last months statewide median price for condo/townhouse units stood at $221,000, up 15.9% year on year. New listings statewide increased year on year for all property type categories during October rising 1.6% for single family homes and 3.4% for condo and townhouse units.  Active listings of single family homes continued to fall throughout October, although the rate of decline was not as steep as seen in previous months. At the end of the October, the statewide inventory of single family homes recorded a multi year low of 39.4% below where it stood at the same point in time last year. Condo and townhouse inventory, by contrast, was down by 11.8% year on year as at the end of the month. Octobers statewide inventory of existing single family homes saw a record low of a 2.1 month supply, while the inventory for existing condos dropped to 4.9 months.
U.S…
According to the National Association of Realtors, U.S. existing home sales continued to trend upward in October, marking the fifth consecutive month of month on month gains. All four major U.S. regions reported both month on month and year on year growth, with the Midwest experiencing the greatest monthly increases.  Total existing home sales covering all home types was up 4.3% from September to a seasonally adjusted annual rate of 6.85 million in October. Overall, sales rose year on year, up 26.6% from the twelve month ago level of 5.41 million.  The median existing home price for all housing types was $313,000, up 15.5% from October 2019 level of $271,100, as prices increased in every region. The October national price increase marked the 104th straight month of year on year gains. Total housing inventory at the end of October stood at 1.42 million units, down 2.7% from September and down 19.8% from the one year ago level of 1.77 million. Unsold inventory sits at an all time low level of a 2.5 month supply at the current sales pace, down from 2.7 months in September and down from 3.9 months a year ago.  Properties typically remained on the market for 21 days during October, which was down from 36 days in October 2019 with some 72% of homes sold on the market for less than a month.  First time buyers were responsible for 32% of the nations sales during October, up from the 31% level in both September 2020 and October 2019. Cash buyers accounted for 19% of all transactions, up from 18% in September but unchanged from October 2019.  Distressed sales relating to foreclosures and short sales represented less than 1% of all closings, equal to Septembers percentage but down from the 2% level in October 2019. Properties typically remained on the market for 21 days during the month which was down from 36 days in October 2019 with 72% of homes sold during the month on the market for less than a month.  First time buyers were responsible for 32% of all sales completed in October, up from the 31% in both September 2020 and October 2019.
November 30th 2020
 
 
1 G.B.P…Buys 1.333 U.S.D – 1 U.S.D…Buys 0.750 G.B.P
 
1 EURO…Buys 1.198 U.S.D – 1 U.S.D…Buys 0.834 EURO
 
1 CAN $…Buys 0.771 U.S.D – 1 U.S.D…Buys 1.295 CAN $
 
1 BRL $…Buys 0.1871 U.S.D – 1 U.S.D…Buys 5.343 BRL $
 
U.S Prime Interest Rate = 4.25%
Team Donovan publishes a monthly report on the 1st of each month for the benefit of Worldwide Florida absentee owners. If you are considering selling your own property now or in the future please do feel free to contact us, as we would be delighted to discuss the marketing of your home in more detail.
February ‘figures’ From The Resort Area…
Total sales during February of 401 across the resort area represented an increase of 19.5% from the 323 closings in January and 35.2% over the 264 sales of February 2020. A home selling in our market took on average 97 days and achieved 97.8% of its listed price which compared to 96 days and 97.9% respectively during February 2020. Overall inventory levels have fallen 40% from twelve months ago when 1,345 recorded as listed for sale compared to 815 in February 2021. Listings were also down by 37.4% from January 2021 total of 1,187. The market’s median price reached $252,361 which was 5.8% higher than the year-ago price of $237,469.  The number of homes under offer/contract also increased from 594 a year ago to 868. The pipeline total was also up by 32.6% from the previous months’ 672 pending total. During the month 107 homes were withdrawn from the market has failed to sell whilst listed. Using the current sales pace against total inventory suggests that the total February number of homes for sale stood at a 2 month supply at the current sales pace which compared to a 3.6 month level in January 2021 and the 4.9 month supply detailed in January 2020.
Orlando…
There were fewer homes on the market during the initial month of 2021 with more people moving to Central Florida, stretching further the gap between supply and demand. The Orlando metropolitan area gained 60,977 new residents during 2020, which was the highest level recorded over the past five years. During January, homes spent an average 40 days on the market which compared to the 60 days recorded in January 2020. O.R.R.A members sold 2,727 homes during the month, an increase of 20% from sales levels the same month a year ago. The median sales price of $275,000 was up 12% from January 2020. Listings spent on average 40days on the market until contract, a drop of 33% from a year ago. The Orlando area inventory was down 40% from the 7,030 homes recorded last January to 4,233homes last month. The number of new listings also decreased falling 5% from 3,579 homes twelve months ago to 3,394 homes in January 2021.
Florida… 
The Florida housing market continued to show momentum during the month even with the ongoing pandemic, with more closed sales, rising median prices, more new pending sales and increased pending inventory from one year ago, according to Florida Realtors® latest housing data. Sales of existing single family homes rose 18% compared to a year ago with new pending sales up 16.9% for existing single family homes last month compared to January 2020.  New pending sales of condos and townhomes were 32% higher year on year. Closed sales of single family homes statewide totaled 21,587, representing an 18% increase year on year, while existing condo and townhome sales of 9,608 were up 24.6% from January 2020. The statewide median sales price for existing single family homes stood at $305,000, up 15.1% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last months statewide median price of condos and townhomes stood at $230,000, up 15% year on year. in January 2021, new listings of single family homes were down over 10% from a year ago in what is traditionally a strong month for new listings. Likewise, new listings of condos and townhouses also fell and were down by almost 7% statewide.  In general the total inventory level of active listings when compared to sales pace continued to be constrained during the month with existing single family homes at a 1.6 month supply level while condo and townhome inventory activity indicated a 3.9 month level of supply.
U.S…
Existing home sales for single family homes, townhomes, condos were up 0.6% during January compared to December 2020 and are up just under 24% year on year, the National Association of REALTORS® reported during the month with all four major regions of the U.S. recording double digit annual gains for home sales during  January.  Seventy one percent of homes that closed during the month were on the market for less than a month, according to NARs report.  The median existing home price for all housing types during January was $303,900 which was a 14% jump from a year ago. Total housing inventory at the month end stood at 1.04 million units, down nearly 26% from twelve months ago. Unsold inventory sat at a 1.9 month supply at the current sales pace whilst properties typically remained on the market for 21 days, down from 43 days a year prior. First time buyers accounted for 33% of the nations sales during January, up slightly from 32% a year earlier. Cash buyers accounted for 19% of all transactions, down from a 21% level a year ago. Individual investors or second home buyers  accounted for 15% of all sales during January, down from 17% in January 2020.
February 26th 2021 
 
1 G.B.P…Buys 1.394 U.S.D – 1 U.S.D…Buys 0.717 G.B.P
 
1 EURO…Buys 1.212 U.S.D – 1 U.S.D…Buys 0.825 EURO
 
1 CAN $…Buys 0.790 U.S.D – 1 U.S.D…Buys 1.264 CAN $
 
1 BRL $…Buys 1.181 U.S.D – 1 U.S.D…Buys 5.521 BRL $
 
U.S Prime Interest Rate = 4.25%
Team Donovan publish a monthly report on the 1st of each month for the benefit of Worldwide Florida absentee owners. If you are considering selling your own property now or in the future please do feel free to contact us, as we would be delighted to discuss the marketing of your home in more detail.
October ‘oracle ‘ From The Resort Area…
The October resort area market saw 371 homes change hands during the month which was 17.4% up on the 316 closings of October 2019 but 61 sales down on the 432 sales recorded in September 2020. A home that did sell achieved an average of 97.6% of the listed price which was the same rate as a year ago whilst the average days that a home takes to sell was down by 2 days from twelve months ago at 97 days.  The markets median price was up 8.3% from a year ago at 246,975 from 228,118.  Overall inventory levels were up 8.4% from a year ago at 1,461 homes whilst the number of homes under offer/contract stood at 734 which was slightly up from 729 pipeline total of last month but 221 higher than the 513 total in October 2019.  During the month 130 homes were withdrawn from the market having failed to sell whilst listed which compares to the 77 homes withdrawn twelve months ago. The October inventory when reviewed to pace of sales indicates a 3.9 month supply of home availability in October which in turn compared to a 3.4 month level last month and the 4.2 month supply total in August 2020. The October 2019 inventory total also indicated a 4.2 month supply at the then sales pace.
Orlando…
Orlando area homes continued to sell quickly as inventory remained tight, according to a new report from the Orlando Regional REALTOR® Association. Monthly housing report data from September 2020 revealed fewer homes listed and higher prices than last year, with a 23.3% fall in overall inventory and a 10.2% increase in the median home price to $270,000 compared to September 2019.  Homes that sold during September spent an average 48 days on the market, a decrease from 51 in August.  The median price for a single family home remained flat, increasing just $500 from August to $295,500. However, this figure is up 11.5% from September 2019, when the median price stood at $265,000.  The median price for condos showed lower gains, hovering around $140,000, which was an increase of 5.8% from September 2019.  ORRA members participated in 3,478 sales of all home types combined during the month, a gain of 16.4% over last year whilst overall sales were down 1.7% from August.  This market recorded a large increase of 19.4% in the number of sales of single family homes but a corresponding drop in inventory over last year. A total of 2,750 single family homes changed hands, whilst the supply level of homes dropped 34.6% to 3,986 homes compared to 6,102 during the same month last year.  For condos, inventory was up 18.2% between September 2019 and September 2020, with 1,240 new listings entering the market. However, the number of sales remained flat at 400 last year compared to 399 this year. More duplexes, townhomes, and villas were also listed for sale than sold in September 2020, versus 2019. The total number of sales detailed a 15% gain from 2019. Inventory overall increased 17.8% from 633 last year to 746 this year. The median price, sales, and inventory all saw moderate increases in indicators over August 2020.  In September, there were 43 sales of distressed homes (foreclosures and short sales) accounting for 1.24% of all Orlando home transactions.  The Orlando area pending sales total remained flat from August at 5,467 compared to 5,421 in September but compared to last year, there were 23.3% more homes pending this year. New contracts have also shown year on year gains from 2,757 to 3,400. However, new contracts were down 4.5% compared to last month .
Florida…
During September, Floridas housing market reported more closed sales, an increase in pending sales, rising median prices and more new listings compared to a year ago despite the ongoing pandemic, according to the latest housing data from Florida Realtors. Existing single family home sales rose 22% compared to September 2019.  Statewide inventory for single family existing homes recorded a record low of a 2.2 month supply. This imbalance in supply and demand could impact the market in the long term as housing shortages continue to put pressure on prices and affordability. Last months closings of single family homes were up 22% across the state year on year at 28,675, while existing condo and townhouse sales increased 25.3% from September 2019 to 11,290. The statewide median sales prices for both single family homes and condo and townhome properties was up year on year  for the 105th consecutive month. The statewide median sales price of an existing single family home stood at $300,000, up 13.2% from the previous year, according to data from Florida Realtors Research Department in partnership with local realtor boards/associations. Last months statewide median price of condos and townhomes stood at $217,500, up 12.7%  year on year.   Statewide, new listings increased in both property categories during September with a rise of 12.1% for single family homes and 21.1% for condo and townhouse units. On the supply side total inventory of active listings continues to be tight, especially for existing single family homes, which were at a 2.2 month supply level in September while condo Condo and townhouse inventory recorded a 5.1 month level.
U.S…
Total existing home sales of completed transactions of all home styles was up 9.4% from August to a seasonally adjusted annual rate of 6.54 million in September. Overall sales were up 20.9% from a year ago from 5.41 million in September 2019.  The median existing home price for all housing types during September was $311,800, up 14.8% from the September 2019  price of $271,500, as prices increased in every region with the September national price increase marking the 103rd straight month of national year on year gains. Properties typically remained on the market for 21 days during September which represented an all time low level and compared to the 22 days of August and 32 day level of September 2019. Seventy one percent of homes sold during the month were on the market for less than one month. First time buyers accounted for 31% of all closings, down from 33% in both August 2020 and September 2019.  Individual investors or second home buyers, who often account for many cash sales, were responsible for 12% of all sales during September, a small decline from the 14% figure recorded in both August 2020 and September 2019. Cash buyers accounted for 18% of the nations transactions, unchanged from August but up from 17% during September 2019. Distressed sales of foreclosures and short sales represented under 1% of the September market share, equal to the August percentage but down from a 2% level in September 2019. Single family home sales sat at a seasonally adjusted annual rate of 5.87 million, up 9.7% from 5.35 million in August, and up 21.8% from a year ago. The median existing single family home price stood at $316,200, up 15.2% from a year ago. Existing condominium and co-op sales recorded a seasonally adjusted annual rate of 670,000 units, up 6.3% from August and 13.6% higher than twelve months ago. The median existing condo price was $272,700 representing an increase of 9.9% from a year ago.  Total housing inventory in September was at 1.47 million units, down 1.3% from August and down 19.2% from the one year ago level of 1.82 million. Unsold inventory recorded a 2.7 month supply at the current sales pace, down from 3 months in August and down from the 4 month figure recorded in September 2019.
October 30th 2020
 
1 G.B.P…Buys 1.297 U.S.D – 1 U.S.D…Buys 0.770 G.B.P
 
1 EURO…Buys 1.168 U.S.D – 1 U.S.D…Buys 0.855 EURO
 
1 CAN $…Buys 0.751 U.S.D – 1 U.S.D…Buys 1.330 CAN $
 
1 BRL $…Buys 0.172 U.S.D – 1 U.S.D…Buys 5.781 BRL $
 
U.S Prime Interest Rate = 4.25%
Team Donovan publish a monthly report on the 1st of each month for the benefit of Worldwide Florida absentee owners. If you are considering selling your own property now or in the future please do feel free to contact us, as we would be delighted to discuss the marketing of your home in more detail.
September ‘summary’ From The Resort Area…
The Resort areas median price was up 7.9% year on year in September from $226,731 to $244,658 whilst homes were also selling on average 2 days quicker than they were a year ago at 96 days.  A September closed home achieved on average 97.8% of the asking price which was marginally up on the 97.6% level being achieved 12 months ago. Total inventory of homes available for purchase stood at 1,484 which was 5.1% less than the previous months inventory but 184 homes higher than the September 2019 total of 1,300. Total market sales of 432 reflected a 43.5% increase on the 301 closings of September last year and were also up  63 sales compared to the 369 closings last month. During September 118 homes were withdrawn from the market having failed to sell which was 42 more than a year ago.  Septembers total inventory when considered against pace of sales suggests a 3.4 month home supply level which compared to the 4.2 level last month and a 3.6 month supply total of July 2020. The September 2019 level indicated a 4.3 month supply at the then sales pace.
Orlando…
A spring of paused transactions in the wider Orlando market have propelled to an upswing in buyer activity that continued during August to send Orlando area home sales into positive territory for the second consecutive month, reported the Orlando Regional REALTOR® Association. Orlandos median price has continued an upward path, while inventory levels fell to a new low.  The overall median price of an Orlando area home (all types combined) that sold during August was $275,000, which was 10% above the August 2019 median price of $250,000 and 1.9% up from the July 2020 median price of $270,000. The median price of single family homes that changed hands increased 9.3% over August 2019 at $295,000. The median price for condos was up 11.3% to $152,500 whilst townhome/villas/duplexes increased 4.2% to $225,900.  Members of O.R.R.A participated in 3,539 sales of all home types during August, which was 4.2% higher than the 3,397 sales recorded during August 2019 and 3.8% up from the 3,679 sales in July 2020. Sales of single family homes totaled 2,868 which was an increase of 7.5% compared to August 2019, while condo sales of 367 represented a decrease of 12.8% year on year. Duplexes, townhomes, and villas saw 304 combined sales which represented a decrease of 1.6% from August 2019.  Sales of distressed homes (foreclosures and short sales) totaled 82 which was 4.7% down on the 86 distressed sales recorded in August 2019 with distressed sales in total comprising 2.5% of total Orlando area transactions during for the month.  Homes that closed during  August took an average 49 days to move from listing to pending and an average of 44 days between pending and closing, for a total average of 93 days from listing to closing.  The overall inventory of homes available for purchase during August stood at 5,958 and represented a decrease of 22.1% compared to August 2019, and a 4.2% decrease compared to last month. In total there were 34.3.% fewer single family homes, 20.3% more condos; and 28.3% more duplexes/townhomes/villas, year on year.  Pending sales were up 15.8% compared to August last year but down 1.7% compared to last month. New contracts are up 11.4% year on year, whilst new new home listings were up 3.3%.
Florida…
The Florida housing market reported more closed sales, an increase in pending sales, higher median prices and more new listings during August compared to a year ago despite the ongoing pandemic, according to Florida Realtors® latest housing data.  Last months closed sales of single family homes statewide was up 8.8% year on year, totaling 29,495, while existing condo and townhome sales increased 10.3% from August 2019 to a total of 11,100. The statewide median sales prices for both single family homes and condo/townhouse properties was up year on year for the 104th consecutive month. The statewide median sales price for existing single family homes stood at $300,000, up 13.2% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last months statewide median price for condo/townhome units was $217,50 which was up 14.5% from a year ago.  New listings were up year on year in all property categories, with existing single family homes seeing an increase of 2.4% and condo and townhouse units up 15.1%. Against sales pace the overall supply side of the market remained relatively restricted, particularly in the existing single family home category, which recorded a 2.3 month supply level in August whilst Condo and townhome inventory indicated a 5.3 month supply.
U.S…
Monthly data by the National Association of Realtors revealed that existing U.S. home sales continued to climb during August 2020, marking three consecutive months of positive sales gains. Each of the four major regions experienced both month on month gains and year on year growth, with the Northeast seeing the greatest improvement from the prior month. Total existing home sales for all home styles combined was up 2.4% from July to a seasonally adjusted annual rate of 6.0 million units in August.  Sales as a whole rose year on year, up 10.5% from twelve month ago from 5.43 million in August 2019.  The median existing home price for all housing types during August was $310,600, a rise of 11.4% from the August 2019 price of $278,800, as prices rose in every region. The August national price increase marked the 102nd straight month of year on year gains.  Single family home sales sat at a seasonally adjusted annual rate of 5.37 million, up 1.7% from the 5.28 million level in July, and up 11% from a year ago. The median existing single family home price was $315,000 in August, up 11.7% from August 2019. Existing condominium and co-op sales recorded a seasonally adjusted annual rate of 630,000 units during August, up 8.6% from July and up 6.8% from a year ago. The median existing condo price was $273,300 which represented an increase of 7.8% from twelve months ago.  Total housing inventory at the end of August recorded 1.49 million units, down 0.7% from July and down 18.6% from a year ago (1.83 million).  Unsold inventory sits at a 3 month supply at the current sales pace, down from 3.1 months in July and down from the 4 month level recorded in August 2019.  Properties typically remained on the market for 22 days, seasonally equal to the number of days in July and down from 31 days in August 2019. Sixty nine percent of homes sold during August were on the market for less than a month.   First time buyers were responsible for 33% of the nations sales during August, down from 34% in July 2020, but up from 31% in August 2019.  Cash buyers accounted for 18% of all transactions, up from 16% in July 2020 and down from 19% in August 2019. Distressed sales of foreclosures and short sales represented less than 1% of all sales in August, equal to July’s percentage, but down from a 2% level in August 2019.
September 30th 2020
 
1 G.B.P…Buys 1.282 U.S.D – 1 U.S.D…Buys 0.779 G.B.P
 
1 EURO…Buys 1.170 U.S.D – 1 U.S.D…Buys 0.854 EURO
 
1 CAN $…Buys 0.746 U.S.D – 1 U.S.D…Buys 1.338 CAN $
 
1 BRL $…Buys 0.177 U.S.D – 1 U.S.D…Buys 5.650 BRL $
 
U.S Prime Interest Rate = 4.25%
Team Donovan publish a monthly report on the 1st of each month for the benefit of Worldwide Florida absentee owners. If you are considering selling your own property now or in the future please do feel free to contact us, as we would be delighted to discuss the marketing of your home in more detail.