The increase in prices of Florida homes has been one of the most noticeable trends in the real estate market. Most experts would classify the current marketplace as a seller’s market since the decrease in housing inventory has given much of the negotiating power to the sellers. Many homes are been sold at or above list price, and there are countless examples of newly listed homes receiving 15 to 20 offers on the first day that the property is listed. The median sales price for Florida single family homes in April 2021 is $336,525.00, which is a 22.4% increase from last year’s median sales price of $275,000.00. The median sales price for Florida condominiums is $250,000.00, which is a 19.6% increase from last year. The large pricing jumps cannot continue indefinitely, but it has been difficult to predict when the sales prices will start to cool off.
Board certified real estate attorney Joseph S. Giannell, Esq. is the CEO of the Florida title company, Giannell Title LLC, and the COO of the Florida real estate law firm of Peyton Bolin PL. With the experience of handling thousands of Florida real estate closings, Joseph’s practice is driven by a commitment to helping clients accomplish their goals with a problem-solving approach that strives to gets results no matter the real estate issue they’re facing. Joseph can assist anyone involved in Florida real estate transactions, from buyers and sellers to investors and lenders, with legal expertise on residential and commercial real estate, condominium and homeowner’s association law, and real property litigation.