Carlos Cachon
Carlos Cachon

Condo Townhouse Market Remains The Hottest Market For Now!

Thinking of Buying A Home? The Condo Townhouse Market Remains Strong And We  Have Got You Covered! 

Take advantage of the low-interest rates and contact us today to see what we can do for you, we can help! Interest rates and prices are currently so low that it is possible to buy with little or no money down. 

Our team specializes in customer satisfaction and if you are not satisfied with your home purchase within the first 12 months, we will sell it for $0 listing fee! 

That’s right, we guarantee it! Call our team today about this and other Exclusive  Offers and Guarantees! 

Call us directly at 239-399-5432 for a Free Hotlist of Condos and Townhouses available on your price, range and location!

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Your Home Sold Guaranteed, or We Will Buy It* 

Home Sold in 90 Days, or We Will Pay You Cash* 

*Agent and Seller must agree on the price and terms. 

Check out this recent article we found from about today’s current market!

Fla.’s Housing Market: Median Prices, New Listings Up in August

Florida Realtors’ data: More new listings and higher median prices – up 18% for single-family homes to $354,000; up 16.1% to $252,500 for condos – than a year ago. Single-family home sales rose just 0.2%, but condo sales were up 13.1%. Chief Economist O’Connor: Condo-townhouse market “remains the hotter market for now.”

ORLANDO, Fla. – Florida’s housing market reported higher median prices, more new listings, and a rise in all-cash sales in August compared to a year ago, according to Florida Realtors® latest housing data.

“The data shows that new listings continue to increase, which is hopeful news for buyers who may have been waiting to see more for-sale inventory come on the market,” says 2021 Florida Realtors President Cheryl Lambert, broker-owner with Only Way Realty Citrus in Inverness. “New listings for single-family homes in August rose 10.6% year-over-year, while new listings for condo-townhouse properties increased 1.4%. Still, it’s likely to take some time before inventory levels rebuild.”

Closed sales of single-family homes statewide in August totaled 29,550, up slightly (0.2%) year-over-year, while existing condo-townhouse sales totaled 12,550, up 13.1% over August 2020. Closed sales may occur from 30- to 90-plus days after sales contracts are written.

The statewide median sales price for single-family existing homes last month was $354,000, up 18% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last month’s statewide median price for condo-townhouse units was $252,500, up 16.1% over August 2020. The median is the midpoint; half the homes sold for more, half for less.

Florida Realtors Chief Economist Dr. Brad O’Connor notes that while closed sales of single-family homes were up by only a fraction of a percentage point compared to a year ago, “that increase remains impressive given the rate at which homes were selling at this time last year. The market for condos and townhouses, however, remains the hotter market for now.”

In a continuing trend, the share of closed sales that were all-cash purchases rose last month compared to the previous year. In August, single-family existing home sales paid in all cash increased by 48.3% year-over-year, while all-cash sales of condo-townhouse units rose by 32.9%.

On the supply side of the market, inventory (active listings) remained constrained in August.

“Inventory levels at the end of August were not much different than they were at the end of July, but are still well below where they were a year ago,” Dr. O’Connor says. “Active listings (inventory) of single-family homes were down 32.4% year-over-year, while active listings of condos and townhouses were down 52.4%.”

Single-family existing homes continued at a very low 1.3-months supply in August, while condo-townhouse inventory was at a 1.7-months supply.

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 2.84% in August 2021, down from the 2.94% average during the same month a year earlier.

To see the full statewide housing activity reports, go to Florida Realtors Tools and Resources. Realtors also have access to local market data (password protected) through the Florida Realtors SunStats resource.

© 2021 Florida Realtors®

If you are in the market for buying or selling a home, the Cachon Team is your best choice in Naples, Florida to help you.  Call us at 239-399-5432 or fill out the form below.

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