During 2021 most of the metro areas throughout the State of Florida experienced double-digit growth with respect the median home sale price. This was primarily due to the increase in demand from out-of-state purchasers looking to take advantage of Florida’s warm climate, growing business & economic environment and high quality of life.
Based on information provided by the FloridaRealtors, the year-end 2021 median home price for single family homes in the state of Florida was reported to be $348,000, an increase of 20.0%. For the same period, the median sale price for condominiums and townhomes increased by 17.2% to $252,000.
These increases in the median prices were driven largely by the luxury market. During the year there were 22,262 single family homes that sold for $1,000,000 or more while, 7,979 townhomes and condominiums sold for $1,000,000 or more.
How did individual markets fare? See below for the top 10 ranking of individual markets by the median sale price and growth rate for both the single-family and townhome / condominium markets in Florida.
Top 10 Florida Housing Markets – Single Family Homes
The median sale price is one of the preferred statistical methods for measuring price activity as it is not as sensitive of extraordinary high or low sale prices (that are not typical of a particular market area) which can easily skew the values.
Following are the Top 10 markets in the State of Florida for single-family homes ranked by median sale price (as of year-end 2021).
- Jacksonville MSA: $325,000 (tie)
- Sebastian – Vero Beach MSA: $325,000 (tie)
- Tampa – St. Petersburg – Clearwater MSA: $330,000
- Port St. Lucie MSA: $332,000
- Orlando – Kissimmee – Sanford MSA: $356,899
- Cape Coral – Fort Myers MSA: $360,000
- Crestview – Fort Walton Beach – Destin MSA: $384,137
- North Port – Sarasota – Bradenton MSA: $405,000
- Miami – Fort Lauderdale – West Palm Beach MSA: $480,000
- Naples – Immokalee – Marco Island MSA: $645,000
Following are the Top 10 markets in the State of Florida for single-family homes ranked by the growth rate of the median sale price (as of year-end 2021).
- Sebastian – Vero Beach MSA: 20.4%
- Miami – Fort Lauderdale – West Palm Beach MSA: 20.6%
- North Port – Sarasota – Bradenton MSA: 20.9%
- Tampa – St. Petersburg – Clearwater MSA: 21.3%
- Sebring MSA: 22.1%
- Ocala MSA: 24.3% (tie)
- Homosassa Springs MSA: 24.3% (tie)
- Cape Coral – Fort Myers MSA: 24.6%
- Punta Gorda MSA: 25.0%
- Naples – Immokalee – Marco Island MSA: 29.4%
- Source: FloridaRealtors.org
Top 10 Florida Housing Markets – Townhouses & Condominiums
Following are the Top 10 markets in the State of Florida for townhomes & condominiums ranked by median sale price (as of year-end 2021).
- Palm Bay – Melbourne – Titusvilla MSA: $240,000
- The Villages MSA: $247,995
- Cape Coral – Fort Myers MSA: $250,000
- Deltona – Daytona Beach – Ormond Beach: $262,500
- Miami – Fort Lauderdale – West Palm Beach MSA: $265,000
- North Port – Sarasota – Bradenton MSA: $290,000
- Pensacola – Ferry Pass- Brent MSA: $333,050
- Panama City MSA: $348,000
- Naples – Immokalee – Marco Island MSA: $350,000
- Crestview – Fort Walton Beach – Destin MSA: $439,950
Following are the Top 10 markets in the State of Florida for townhomes & condominiums ranked by the growth rate of the median sale price (as of year-end 2021).
- North Port – Sarasota – Bradenton MSA: 18.4%
- Ocala MSA: 18.8%
- Cape Coral – Fort Myers MSA: 19.1%
- Lakeland – Winter Haven MSA: 19.5%
- Miami – Fort Lauderdale – West Palm Beach MSA: 20.5% (tie)
- Crestview – Fort Walton Beach – Destin MSA: 20.5% (tie)
- Naples – Immokalee – Marco Island MSA: 20.7%
- Homossa Springs MSA: 20.9%
- Panama City MSA: 23.4%
- Sebring MSA 23.8%
- Source: FloridaRealtors.org
Are you thinking of selling?
Based on the year-end 2021 data, the current state of the market is highly favorable for seller. If you are a homeowner and are considering selling your personal residence, vacation home or investment property, not may be the perfect time to do so.
Our team has assisted sellers not only throughout the state of Florida, but in most major markets nationwide. We take a highly methodical and deliberate approach when working with or clients and have specific strategies to help get the best value for the property.
Contact us at info@quantumcos.com or learn more by visiting our web site at www.QuantumRealtyAdvisors.com.
The information provided in this website was derived from sources deemed to be reliable to is not guaranteed or warranted. All information, content, and materials available on this site are for general informational purposes only.
