In Q1 2022, the average time to sell real estate in Florida dropped to 12 days. This is exactly 50% shorter compared to Q1 last year (the average time to sell real estate in 2021 was 24 days). Such a trend means that the demand for residential and commercial properties located in this state has become even higher. This is great news for investors whose return depends on reselling property.
A deeper dive into statistics shows that in Q1 2022, 68% of Florida real estate (2 out of 3 units) was sold in less than 30 days. A year earlier, in Q1 2021, this indicator was 54%; in Q1 2020, only 41%.
Experts believe this trend is driven by greater security compared to the times of the COVID-19 pandemic. A home has far more functions now than in the past, which is why buyers look for residences that fully meet their needs (more space, convenient floor plan, adjacent grounds outdoors) and close the deal on their purchase as soon as possible.