2 central florida market update monthly facebook august

Are you a homeowner interested in staying informed on the latest market trends and what it means for your home? Needing to sell and looking for guidance? Thinking of buying a home and need the latest market info?

Here's a closer look at the latest numbers from the month of August 2020, and what impact these numbers have on the Central Florida Real Estate market:

A Look at Median Sales Price:

Median Sales Price for Central Florida Real Estate:

August 2020: $273,000
July 2020: $265,000
August 2019: $250,000

What does this mean?

According to Florida Realtors, "selling prices have continued to trend upward as buyers find too-few available homes for sale. In the second quarter, the median price for a Florida single-family home was $277,500 – 4.7% higher year-to-year."

As we're currently seeing historically low interest rates making it a good time to buy, the lack of homes available for sale, also makes it a great time to sell.

Homes on the Market vs. Number of Homes Sold in Central Florida

Homes listed for sale:

August 2020: 4,816 homes listed for sale
July 2020: 5,112 homes listed for sale
August 2019: 5,461 homes listed for sale

Homes Sold:

August 2020: 3,735 homes sold
July 2020: 3,861 homes sold
August 2019: 4,961 homes sold

What does this mean for buyers?

The market is still active. Buyers are buying homes, and many are looking to take advantage of current market conditions and interest rates. However, the number of homes being listed for sale is slightly down, meaning fewer homes for sale to choose from for buyers. With a lower 'home inventory' comes more competition among buyers.

If you're thinking of buying, it's important to be pre-approved and have financing determined. That way, when you do find the home you're looking for, you're ready to place a competitive offer to help ensure you don't miss out on the home to another buyer. Learn more about securing financing here.

It's also a good idea to actively stay informed of the homes on the market in the community where you're looking to move so you don't miss out if your perfect home hits the market. Consulting with and using the help of a professional can help ensure you don't miss your dream home. Learn more about if now is a good time to buy a home in Central Florida.

What does this mean for sellers?

Again, the Real Estate market is still active in 2020. For sellers, with fewer homes entering the market, your home has less competition from other homes, but buyers are looking for homes like yours.

Overall, these market stats point to now being a good time to put your home on the market. Learn more about selling your home in Central Florida right now.

If you're interested in a complimentary, customized report on your home, your neighborhood, or a community you're interested in, please let us know. We're happy to guide you through any Real Estate need: