JACKSONVILLE, Fla. – 2020 was a year like no other for the residential real estate market, and the market is still feeling the effects.
Multiple factors have driven up the demand for homes. Despite strong interest from buyers, the market has not seen supply keep up.
Florida is the clear leader in the number of homes for sale, with 248 active listings per 10,000 homes, and Hawaii (229) and Georgia (210) are not far behind, a new study by Inspection Support Network shows.
“In these locations, supply and demand are keeping pace with one another more than they are elsewhere,” the study said. “This makes them more favorable for buyers, because while there are more competitors in the market, there are also more options available.”
The analysis found that in Florida, there was an average of 118,165 active listings per month in 2020. Altogether, there were 248 active listings per 10,000 owner-occupied homes, compared to the national average of 124. Out of all states, Florida has the most homes for sale. Here is a summary of the data for Florida:
- Number of active listings per 10k homes: 248
- Average number of active listings per month: 118,165
- Change in number of active listings (YoY): -20.7%
- Average number of new listings added per month: 36,559
- Median home price: $341,742
For reference, here are the statistics for the entire United States:
- Number of active listings per 10k homes: 124
- Average number of active listings per month: 914,438
- Change in number of active listings (YoY): -27.5%
- Average number of new listings added per month: 371,149
- Median home price: $334,081
For more information, a detailed methodology, and complete results, you can find the original report on Inspection Support Network’s website here.