Quarterly Market Detail - Q2 2021 Single-Family Homes ...
Quarterly Market Detail - Q2 2021 Single-Family Homes
Flagler County Association of REALTORS?
This report describes member activity for the association and is not confined to any specific geographic area.
Summary Statistics
Q2 2021
Q2 2020
Closed Sales Paid in Cash Median Sale Price Average Sale Price Dollar Volume Median Percent of Original List Price Received Median Time to Contract Median Time to Sale
New Pending Sales New Listings Pending Inventory Inventory (Active Listings) Months Supply of Inventory
1,036
705
348
200
$300,000
$255,000
$378,815
$310,786
$392.5 Million $219.1 Million
100.0%
96.7%
10 Days 60 Days 1,125 1,269
670 345 1.1
55 Days 99 Days
939 905 552 763 3.4
Percent Change Year-over-Year
47.0% 74.0% 17.6% 21.9% 79.1%
3.4%
-81.8% -39.4% 19.8% 40.2% 21.4% -54.8% -67.6%
Closed Sales
The number of sales transactions which closed during the quarter
Economists' note : Closed Sales are one of the simplest--yet most important--indicators for the residential real estate market. When comparing Closed Sales across markets of different sizes, we recommend comparing the percent changes in sales rather than the number of sales. Closed Sales (and many other market metrics) are affected by seasonal cycles, so actual trends are more accurately represented by year-over-year changes (i.e. comparing a quarter's sales to the amount of sales in the same quarter in the previous year), rather than changes from one quarter to the next.
Quarter
Year-to-Date Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019 Q4 2018 Q3 2018 Q2 2018
Closed Sales
1,928 1,036 892 939 965 705 670 660 665 792 580 630 720 753
Percent Change Year-over-Year
40.2% 47.0% 33.1% 42.3% 45.1% -11.0% 15.5% 4.8% -7.6% 5.2% 1.0% 11.3% 13.6% 6.1%
Closed Sales
1,200
2017
2018
2019
2020
1,000
800
600
400
200
0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Produced by Florida Realtors? with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Thursday, August 12, 2021. Data revised on Friday, September 17, 2021. Next data release is Wednesday, November 10, 2021.
Quarterly Market Detail - Q2 2021 Single-Family Homes
Flagler County Association of REALTORS?
This report describes member activity for the association and is not confined to any specific geographic area.
Cash Sales
The number of Closed Sales during the quarter in which buyers exclusively paid in cash
Economists' note : Cash Sales can be a useful indicator of the extent to which investors are participating in the market. Why? Investors are far more likely to have the funds to purchase a home available up front, whereas the typical homebuyer requires a mortgage or some other form of financing. There are, of course, many possible exceptions, so this statistic should be interpreted with care.
Quarter
Year-to-Date Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019 Q4 2018 Q3 2018 Q2 2018
Cash Sales
624 348 276 231 239 200 214 211 210 237 205 212 225 233
Percent Change Year-over-Year
50.7% 74.0% 29.0% 9.5% 13.8% -15.6% 4.4% -0.5% -6.7% 1.7% 0.0% 4.4% 1.8% -4.1%
2017 400
2018
2019
2020
Cash Sales
300
200
100
0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Cash Sales as a Percentage of Closed Sales
The percentage of Closed Sales during the quarter which were Cash Sales
Economists' note : This statistic is simply another way of viewing Cash Sales. The remaining percentages of Closed Sales (i.e. those not paid fully in cash) each quarter involved some sort of financing, such as mortgages, owner/seller financing, assumed loans, etc.
Quarter
Year-to-Date Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019 Q4 2018 Q3 2018 Q2 2018
Percent of Closed Sales Paid in Cash
32.4% 33.6% 30.9% 24.6% 24.8% 28.4% 31.9% 32.0% 31.6% 29.9% 35.3% 33.7% 31.3% 30.9%
Percent Change Year-over-Year
7.6% 18.3% -3.1% -23.1% -21.5% -5.0% -9.6% -5.0% 1.0% -3.2% -1.1% -6.1% -10.3% -9.6%
Pct. of Closed Sales Paid in Cash
2017 50%
2018
2019
2020
40%
30%
20%
10%
0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Produced by Florida Realtors? with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Thursday, August 12, 2021. Data revised on Friday, September 17, 2021. Next data release is Wednesday, November 10, 2021.
Quarterly Market Detail - Q2 2021 Single-Family Homes
Flagler County Association of REALTORS?
This report describes member activity for the association and is not confined to any specific geographic area.
Median Sale Price
The median sale price reported for the quarter (i.e. 50% of sales were above and 50% of sales were below)
Economists' note : Median Sale Price is our preferred summary statistic for price activity because, unlike Average Sale Price, Median Sale Price is not sensitive to high sale prices for small numbers of homes that may not be characteristic of the market area. Keep in mind that median price trends over time are not always solely caused by changes in the general value of local real estate. Median sale price only reflects the values of the homes that sold each quarter, and the mix of the types of homes that sell can change over time.
Quarter
Year-to-Date Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019 Q4 2018 Q3 2018 Q2 2018
Median Sale Price
$289,700 $300,000 $278,162 $265,000 $270,450 $255,000 $240,000 $246,000 $245,000 $250,000 $239,900 $236,250 $239,900 $225,000
Percent Change Year-over-Year
17.2% 17.6% 15.9% 7.7% 10.4% 2.0% 0.0% 4.1% 2.1% 11.1% 9.6% 5.9% 9.0% 2.6%
Median Sale Price
$350K
2017
2018
2019
2020
$300K
$250K
$200K
$150K
$100K
$50K
$0K Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Average Sale Price
The average sale price reported for the quarter (i.e. total sales in dollars divided by the number of sales)
Economists' note : Usually, we prefer Median Sale Price over Average Sale Price as a summary statistic for home prices. However, Average Sale Price does have its uses--particularly when it is analyzed alongside the Median Sale Price. For one, the relative difference between the two statistics can provide some insight into the market for higher-end homes in an area.
Quarter
Year-to-Date Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019 Q4 2018 Q3 2018 Q2 2018
Average Sale Price
$366,807 $378,815 $352,859 $345,805 $349,754 $310,786 $291,425 $294,293 $288,048 $316,626 $287,025 $277,345 $280,452 $271,266
Percent Change Year-over-Year
21.7% 21.9% 21.1% 17.5% 21.4% -1.8% 1.5% 6.1% 2.7% 16.7% 10.8% 4.0% 6.4% 0.4%
$400K
2017
2018
2019
2020
Average Sale Price
$300K
$200K
$100K
$0K Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Produced by Florida Realtors? with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Thursday, August 12, 2021. Data revised on Friday, September 17, 2021. Next data release is Wednesday, November 10, 2021.
Quarterly Market Detail - Q2 2021 Single-Family Homes
Flagler County Association of REALTORS?
This report describes member activity for the association and is not confined to any specific geographic area.
Dollar Volume
The sum of the sale prices for all sales which closed during the quarter
Economists' note : Dollar Volume is simply the sum of all sale prices in a given time period, and can quickly be calculated by multiplying Closed Sales by Average Sale Price. It is a strong indicator of the health of the real estate industry in a market, and is of particular interest to real estate professionals, investors, analysts, and government agencies. Potential home sellers and home buyers, on the other hand, will likely be better served by paying attention to trends in the two components of Dollar Volume (i.e. sales and prices) individually.
Quarter
Year-to-Date Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019 Q4 2018 Q3 2018 Q2 2018
Dollar Volume
$707.2 Million $392.5 Million $314.8 Million $324.7 Million $337.5 Million $219.1 Million $195.3 Million $194.2 Million $191.6 Million $250.8 Million $166.5 Million $174.7 Million $201.9 Million $204.3 Million
Percent Change Year-over-Year
70.7% 79.1% 61.2% 67.2% 76.2% -12.6% 17.3% 11.2% -5.1% 22.8% 12.0% 15.8% 20.8% 6.5%
Dollar Volume
$500 M
2017
2018
2019
2020
$400 M
$300 M
$200 M
$100 M
$0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Median Percent of Original List Price Received
The median of the sale price (as a percentage of the original list price) across all properties selling during the quarter
Economists' note : The Median Percent of Original List Price Received is useful as an indicator of market recovery, since it typically rises as buyers realize that the market may be moving away from them and they need to match the selling price (or better it) in order to get a contract on the house. This is usually the last measure to indicate a market has shifted from down to up, so it is what we would call a lagging indicator.
Quarter
Year-to-Date Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019 Q4 2018 Q3 2018 Q2 2018
Med. Pct. of Orig. List Price Received
100.0% 100.0% 99.3% 98.2% 97.2% 96.7% 96.7% 96.3% 96.0% 96.0% 95.7% 95.9% 96.0% 95.9%
Percent Change Year-over-Year
3.3% 3.4% 2.7% 2.0% 1.3% 0.7% 1.0% 0.4% 0.0% 0.1% -0.2% -0.2% 0.0% 0.0%
Med. Pct. of Orig. List Price Received
120%
2017
2018
2019
2020
100%
80%
60%
40%
20%
0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Produced by Florida Realtors? with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Thursday, August 12, 2021. Data revised on Friday, September 17, 2021. Next data release is Wednesday, November 10, 2021.
Quarterly Market Detail - Q2 2021 Single-Family Homes
Flagler County Association of REALTORS?
This report describes member activity for the association and is not confined to any specific geographic area.
Median Time to Contract
The median number of days between the listing date and contract date for all Closed Sales during the quarter
Economists' note : Like Time to Sale, Time to Contract is a measure of the length of the home selling process calculated for sales which closed during the quarter. The difference is that Time to Contract measures the number of days between the initial listing of a property and the signing of the contract which eventually led to the closing of the sale. When the gap between Median Time to Contract and Median Time to Sale grows, it is usually a sign of longer closing times and/or declining numbers of cash sales.
Quarter
Year-to-Date Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019 Q4 2018 Q3 2018 Q2 2018
Median Time to Contract 17 Days 10 Days 27 Days 31 Days 43 Days 55 Days 60 Days 53 Days 51 Days 52 Days 64 Days 54 Days 46 Days 55 Days
Percent Change Year-over-Year
-69.6% -81.8% -55.0% -41.5% -15.7% 5.8% -6.3% -1.9% 10.9% -5.5% 6.7% 14.9% -13.2% 19.6%
Median Time to Contract
2017 70
2018
2019
2020
60
50
40
30
20
10
0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Median Time to Sale
The median number of days between the listing date and closing date for all Closed Sales during the quarter
Economists' note : Time to Sale is a measure of the length of the home selling process, calculated as the number of days between the initial listing of a property and the closing of the sale. Median Time to Sale is the amount of time the "middle" property selling this month was on the market. That is, 50% of homes selling this month took less time to sell, and 50% of homes took more time to sell. Median Time to Sale gives a more accurate picture than Average Time to Sale, which can be skewed upward by small numbers of properties taking an abnormally long time to sell.
Quarter
Year-to-Date Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019 Q4 2018 Q3 2018 Q2 2018
Median Time to Sale
66 Days 60 Days 78 Days 77 Days 91 Days 99 Days 108 Days 94 Days 93 Days 97 Days 113 Days 102 Days 93 Days 96 Days
Percent Change Year-over-Year
-35.3% -39.4% -27.8% -18.1% -2.2% 2.1% -4.4% -7.8% 0.0% 1.0% 7.6% 7.4% -4.1% 2.1%
Median Time to Sale
2017 120
2018
2019
2020
100
80
60
40
20
0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Produced by Florida Realtors? with data provided by Florida's multiple listing services. Statistics for each month compiled from MLS feeds on the 15th day of the following month. Data released on Thursday, August 12, 2021. Data revised on Friday, September 17, 2021. Next data release is Wednesday, November 10, 2021.
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