February 2021 Market Update
The number of new listings on the market is still down 11% compared to this time last year. The big different is the number of buyers. This has dramatically increased! The number of active properties has decreased by 60%. Houses are staying on the market 3 whole weeks less than this time last year! Interest rates continue to be low, but are creeping up ever so slightly. They will continue to fluctuate and are still averaging around or just under 3%.
Here are some quick statistics for Osceola, Polk, and Orange counties.
This is comparing February 2020 to February 2021. The number of houses sold did increase 19% from the prior year! Because of the high interest in buying and a lack of houses for sale to support the demand of buyers, the average price of houses has increased again from this time last year by 16%. Supporting proof for this demand is the fact that the average days on the market has decreased by THREE WEEKS from this time last year!!! Houses sold in February 2021 on average sold for 8% less than list price. Even though demand is high and therefore prices are increasing, it is still super important 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!
The average sales price for a 3 bedroom, 2 bathroom, single family home in the central Florida area are as follows:
Poinciana - $209,654
Kissimmee - $247,637
Saint Cloud - $287,241
Davenport - $256,560
Orlando - $283,594
Haines City - $219,095
Deltona - $227,595
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.