'How's the Real Estate market' Is a question that is on many people's minds.
Here's a closer look at the Central Florida Real Estate market, and what it means to you as a buyer, seller, or homeowner.
Number of Homes Sold
We are seeing an increase in home sales over the past few months despite overall home sales being down from last year. These trends are likely due to the impacts of the pandemic in the spring months.
However, with an increase in buyer demand and growing seller confidence, we are now seeing more home purchases and sales.
In fact, the
National Association of Home Builders stated that the latest Housing Trends Report found that 11% of American adults are 'considering a future home purchase in the second quarter in 2020.' Of those potential buyers, almost half are already in the process of finding their new home.
Additionally, according to
Florida Realtors, the number of closed sales for the first six months of 2020 is only down by 7.1% compared to the same time last year, despite the pandemic.
Median Home Sale Price
The Median Sales Price of homes in Central Florida is trending up. In July 2020, the median sales price was $265,000.
Compared year-over-year, prices has increased from $247,500 in July 2019 and month to month, sales price has maintained the same from June 2020.
Number of New Listings
The number of homes listed for sale have decreased from this time last year, likely an impact of the pandemic.
However, the numbers have been increasing over the past few months, signifying a return of seller confidence.
For a more detailed analysis or a customized report on your home, neighborhood, or custom community, contact us or reach out to your ERA Grizzard REALTOR
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Sources:
Data from Stellar MLS including Orange, Lake, Sumter, Osceola, Volusia, Flagler, and Seminole Counties
https://nahbnow.com/2020/07/low-mortgage-rates-pushing-prospective-buyers-off-the-fence