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Why the Orlando Market Is so Strong
Manage episode 164985544 series 1144017
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I'm happy to report some great news to you today about the state of the Central Florida real estate market. Conditions are favorable for buyers and sellers alike.
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What's the state of the Central Florida real estate market? I'm happy to report some great news to you today.
The median price is up to $205,000, which is a 12% increase from this time last year. This is great news for all of you who own real estate here in Central Florida because it means you're starting to build more and more equity back into your properties.
Another great statistic I wanted to share is that 90% of sales have been traditional sales. This is great because it means that distressed sales (short sales and bank-owned sales) only encompass 10% of the market.
Similarly, the fact that inventory is down to 3.35 months is another good statistic. This means that if no other properties came onto the market, it would take us just 3.35 months to sell every home currently on the market, so inventory is very limited. We need properties to sell, so if you've been on the fence about taking advantage of these great market conditions for sellers, now might be a better time than ever.
The median price is up to $205,000, which is a 12% increase from this time last year. This is great news for all of you who own real estate here in Central Florida because it means you're starting to build more and more equity back into your properties.
Another great statistic I wanted to share is that 90% of sales have been traditional sales. This is great because it means that distressed sales (short sales and bank-owned sales) only encompass 10% of the market.
Similarly, the fact that inventory is down to 3.35 months is another good statistic. This means that if no other properties came onto the market, it would take us just 3.35 months to sell every home currently on the market, so inventory is very limited. We need properties to sell, so if you've been on the fence about taking advantage of these great market conditions for sellers, now might be a better time than ever.
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Things are great for both buyers and sellers.
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Things are good for buyers, too. Mortgage rates are still at historic lows at 3.5%. If you're also on the fence about buying a home, know that interest rates are projected to go up soon, so you want to lock in those low interest rates now while you can.
As you can see, the state of our market is strong right now. If you're thinking about buying or selling a home during these favorable times in our market, give us a call or send us an email. We would love the chance to work with you!
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