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, "s
elling 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."
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.
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.
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:
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Data from Stellar MLS including Orange, Lake, Sumter, Osceola, Volusia, Flagler, and Seminole Counties