Nationwide, the 2021 housing market was one for the history books, and the same was true for Northeast Florida.
After three consecutive months of price increases, existing home sales are on pace to hit their highest level in 15 years with an estimated six million homes sold in 2021, according to the National Association of Realtors.
In Northeast Florida, sales prices reached new heights, inventory scraped rock bottom, and homes sold in record time, often for well above the asking price.
“December capped off an exceptional real estate market year in Northeast Florida. Sales of all property types were brisk throughout the year clocking in at nearly 38,000 properties sold for 2021,” said NEFAR President Mark Rosener.
In single-family residential housing across Northeast Florida, the median sales price for December rose to $350,000, a smidgeon of an increase over November’s median of $349,013 but a 22% increase from December 2020.
Meanwhile, the region’s inventory of homes fell to 1.1 months’ supply, a 20.2% decrease from November 2021 and a 25.9% drop from December 2020.
With a median of 24 days on the market in December, homes are still selling at a fast clip with 99.6% of sellers receiving their asking price and 31.5% closing above the listing price, which is a 91% increase from a year ago.
New listings of single-family homes in December dropped to 1,841 homes, a 19.4% decline since November 2021 and a 4.9% decline from the year before.
NEFAR’s market statistics reports are available at nefar.com.