Are you curious with what is happening with the real estate market in Central Florida?
The number of new listings is becoming consistent with years prior to Covid with only 100 fewer new listings than in 2019.
Here are some quick statistics for Osceola and Orange counties.
This is comparing April 2021 to April 2022. Keep in mind these statistics are based on closed houses, which are about 30 days behind any trends being seen for people trying to actively buy or sell a property now that is not already under contract.
The number of houses sold did decreased 16% from the prior year. We are seeing a big change in trends now where a properly priced house will get multiple offers in the first week (not days) and that number of offers has decreased from 30 offers to 2-5 offers. We have also seen more price reductions in the last two weeks. Buyers, even with the increased interest rates, they are still relatively low and it is possible to get a good value on a home. The average price of houses has continued to increase by a more reasonable 16% compared to this time last year. We expect this will decrease in the next few months as sellers are pricing their houses high and not getting the offers they expect. Houses sold in April 2022 continue to sell at or above list price, which is a trend we have seen for the last year. This is also a trend that we expect to see start to reverse.
The demand is still there for houses, so sellers can sell quickly, but you may see a house remain on the market for a week or two instead of days. It is vital to list a house for a fair market value and not over price it! Houses that don't show well or are overpriced STILL DO NOT SELL and are sitting on the market! These houses require a price correction and we are starting to see that take place.
The average sales price for a 3 bedroom, 2 bathroom, single family home without a pool in the central Florida area are as follows:
Poinciana - $289,210 + $17,000 from last month
Kissimmee - $272,857 -$20,000 from last month
Saint Cloud - $359,059 +$55,000 from last month
Davenport - $320,394 +$22,000 from last month
Orlando - $308,298 +$18,000 from last month
Haines City - $312,336 +$14,000 from last month
Deltona - $291,359 +$7,000 from last month If you are worried about where you will move to, talk with us! We have 15 different things you can do to keep from being homeless during that in between time. Connect with us to talk about your options.