Unveiling the Dynamics of the 55+ Active Adult Community Market

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Real estate agent working with a 55+ homebuying couple.

4 minute read

What You’ll Gain From Reading This Article: This article provides real estate data for the 55+ homebuying market for February 2024.


Welcome to the first-ever monthly report on the 55+ active adult community market by 55places.com! The 55+ home market is a vibrant and ever-evolving segment of the real estate industry. It offers unique opportunities as well as challenges for potential homebuyers. Understanding the market’s current state is crucial for making informed decisions, whether you’re looking for a new home or an investment opportunity within these communities. Our monthly insights ensure you always have the latest data at your fingertips. Therefore, be sure to bookmark this page to access future installments.

Listings, closings, inventory, pricing, and the speed at which homes sell shape the 55+ active adult community market. Let’s explore these dynamics to gauge the current market conditions:

  • Total Listings: In February 2024, there were 23,073 listings, a 6.3% increase over the previous month and a 22% increase over the prior year.
  • Closings: February 2024 closings rose to 5,580, a 5% increase over the prior month and a 1% increase over the previous year.
  • Months of Inventory: Inventory levels held steady compared to the prior month at 4.1 months of inventory, up 21% from the same time in 2023.
  • Median List and Sales Prices: List and sales prices diverged in February, with list prices declining 4%, from $490k in January 2024 to $470k in February. However, sales prices grew substantially. Median sales in February reached $497k, up from $487k in January and $418k in February 2023.
  • Days on Market: The reduction in days from 61 in January to 50 in February reflects a faster-paced market where listings sell more quickly.

KEY TAKEAWAY: Looking closely at the data, Southeast Florida, Central Florida, and Phoenix account for most monthly listings and sales.

Southeast Florida3,794
Central Florida2,429
Phoenix1,874
Fort MyersNaples1,815
Tampa1,518
Central Gulf Coast1,276
Myrtle BeachWilmington968
Los AngelesOrange County860
TucsonGreen Valley738
Palm Beach729
Phoenix566
Southeast Florida497
Central Florida490
Los AngelesOrange County427
Tampa319
Central New Jersey276
Fort MyersNaples223
Myrtle BeachWilmington204
Central Gulf Coast200
TucsonGreen Valley194

KEY TAKEAWAY: Pricing in markets generally follows the pricing trends of all homes within markets.

Central California Coast$769k
NorfolkVirginia Beach$704k
Seattle-Tacoma$677k
Denver$659k
San Diego$646k
BostonProvidence$639k
Knoxville$629k
Bay Area$622k
Sacramento$617k
Reno$615k
Southern Pines$270k
Yakima$305k
Memphis$312k
Brunswick$325k
Central Florida$334k
Northwest Indiana$339k
Tampa$340k
Southeast Florida$343k
Green Bay$345k
Bullhead City$353k

KEY TAKEAWAY: Sales prices are trending higher compared to list prices.

Central California Coast$951k
Florida Panhandle$783k
Pittsburgh$735k
Seattle-Tacoma$730k
Prescott$710k
Reno$708k
MesquiteSt. George$671k
BostonProvidence$655k
San Diego$650k
Bay Area$648k
Detroit$260k
Southeast Florida$265k
West Connecticut$323k
Chicago$323k
Grand Rapids$323k
Central New Jersey$327k
Bakersfield$330k
Tampa$331k
Central Florida$336k
Bullhead City$336k

KEY TAKEAWAY: Several markets continue to sell rapidly. Markets with under ten weeks of inventory include:

MARKETWEEKS OF INVENTORY
West Connecticut1
Southern New Hampshire4
Fredericksburg5
Hudson River Area6
San Diego7
Central California Coast7
MesquiteSt. George7
Philadelphia8
Washington D.C.Baltimore8
SavannahHilton Head9
Los AngelesOrange County9
Sacramento9
Long Island9
Charleston9
Indianapolis10
Northern New Jersey10
Central New Jersey10
Williamsburg10
Southern New Jersey10
MARKETWEEKS OF INVENTORY
Central Gulf Coast28
Pittsburgh30
Southeast Florida33
Memphis35
Fort MyersNaples35
Jacksonville38
Central Atlantic Coast38
Florida Panhandle51

In the current market, sales are stable and growing slightly. While list prices have come down, sales are making up for these changes.  Compared to nationally reported numbers, sales are up 1% in 55+ YOY. Overall U.S. sales are down 2.7%. Also, prices are up 19% in the segment versus a 5.1% increase overall. This demonstrates the demand for this product and lifestyle.

Stay tuned over the coming days and weeks! We will investigate more 55+ markets and communities to provide additional up-to-date data for your home search.

A 55+ couple exploring homebuying market insights on 55places.com.

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ABOUT MARSTON GOULD

Marston Gould started his career off with a bang at NASA where he worked for 10 years. He then switched gears from being an engineer to conquering the world of marketing beginning with his role in building an agency in Boston, MA. Now, with over 25 years of Digital Marketing experience, Marston attributes his success to the collaborative teams he’s had the privilege of being apart of. As the field of marketing continues to evolve, Marston always keeps his eye on the current trends.

Can you spot the $207,744 difference between these identical homes?

Financing is the difference!

Get the details in The 62+ Loan Homebuyers Guide.

55places Mortgage is a joint venture between Mutual of Omaha Mortgage and 55places.com.
Details here.

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I agree that 55places and its affiliates, partner providers or agents may call, text, or email me about my inquiry, which may be made with automated means. I understand that my consent is not a prerequisite for buying a property. I may revoke my consent at any time by contacting optout@55places.com. Message/data rates may apply. I also agree to 55places.com’s Privacy Policy and Terms of Use.

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We’re changing the way people 55 and older are searching for their perfect next place. With a national network of hand-selected real estate experts, plus comprehensive information, unbiased content, and on-the-go insight about thousands of communities across the country, we’re a trusted resource paving the way from here to home. Whether you’re interested in a low-maintenance single-level residence, an active lifestyle or age-qualified community, an intimate enclave, or anything in between, we can help you make your next move the best one yet.

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