May 2021 Market Statistics
The real estate market in Northeast Florida continues to be a Seller’s Market. Vigorous buyer demand, driven by low mortgage rates, continues to outpace supply, which remains near historic lows.
Closed Sales for May 2021 increased 37% as compared to the same time last year. The percentage of list price received was 2.5% more than the Asking Price year-over-year and the Median Sales Price increased 17% compared to May 2020.
Market analysts predict that the summer months, along with rising prices, and the reopening of the economy will encourage more homeowners to sell but low inventory levels are expected to continue for some time.