"A normal balance market has about six months of inventory and right now inventory for single-family homes is less than one month," Maycumber said. Like many other things, one could blame the pandemic. Etheredge said with more people working from home they're looking for more space and the Florida sunshine is drawing northerners who have been locked inside due to the pandemic. The growth in Wesley Chapel is proof.
In 2020 the average sale price for a home was about $274,000. In the first quarter of 2021, the average home is selling for more than $342,000 and 100% of sellers are getting their asking price or above appraisal value. Maycumber said the market is so hot right now buyers have to get creative in their approach and how they make an offer.