Florida has recently seen the most homes for sale in the last 13 years, with more than 172,000 homes available to the market, a new analysis shows.
According to real estate broker Redfin, January ended with 172,209 sales. That’s an increase of 22.7% from the previous year.
Redfin said the contribution factors were:
– Condo owners face higher costs due to new safety regulations in Florida.
– More homes are being built in Florida than many other states.
– Homeowners are selling property because they can’t keep up with insurance costs.
Stock is a measure of the number of homes on sale on the last day of the month, said Angela Cherry, a spokesman for Redfin.
“There are so many options that buyers can choose from, so many homes for sale sit in the market for several months at a time, so old stocks are piled up,” Redfin said in a report Thursday. “Listing is also piled up as home buyers demand is cooled. Pending home sales in Florida fell 9.3% year-on-year in January.”
According to Redfin, Fort Lauderdale had 19,440 active lists in January, an increase of 27.2% from last year. West Palm Beach had a list of 17,344, with a 19.5% increase. In Orlando, there was a list of 17,770, with a 24.5% increase.
According to Redfin, the active list is also close to Florida’s record highs.
They rose 19.4% year-on-year in January to 212,437. This is just below the 2019 all-time hit. The active list is a measure of the total number of homes for sale that month.
“The metric is nearby, but it’s not yet a record high,” Cherry said.
Broward, Palm Beaches & St. “This is like a buyer market where you have options,” said Jonathan Lickstein, president of Lucie Realtors, on Thursday. Your negotiable chances are much higher. ”
His data shows that Broward County homes have been on the market for an average of 65 days last year, but now it’s 91 days. He said that in Palm Beach County, the average 70-day home last year is currently an average of 88 days.
