Yes. Buying a new home first does not defeat the exclusion. You only must meet the 2 year ownership test and the main home for 2 of the past 5 year test (731 or more days in the 5 years before the sale.)
However, note that you can't use the exclusion again for 2 years after the previous time you used the exclusion. So if you wanted to sell your newest home and use the exclusion, you would have to wait 2 years and some number of months, based on the closing date of the previous sale.
