According to CoreLogic, home prices nationwide increased year over year by 18% in September 2021 compared with September 2020. On a month-over-month basis, home prices increased by 1.1% in September 2021 compared with August 2021. In Florida, we saw even more annualized growth, with year over year prices going up by 20%.
Today, we are going to get laser focused on zip code 34202, which I am using to represent Lakewood Ranch. The graphic below shows September activity for this zip code. This shows that our strong seller’s market is still holding despite year-on-year sales being down.
Listed at $290,000, this two-bedroom, two-bathroom home features 1,525 square feet of living space. No CDD fees are required with this Tidewater model home located in the highly sought-after community of Eagle Trace near the North East corner of Lakewood Ranch.
A comparative market analysis (or “CMA”) is a report prepared by a real estate agent to help a client determine the value of a home. The report analyzes recently sold properties that are similar to the home in question.
You would not know it by driving through much of Lakewood Ranch, but the weakest link in the housing market is new construction according to the National Association of Realtors (NAR). Due to the Pandemic, there are still many homebuilders that are being conservative by staying on the sidelines.