This might be the best time to sell your home, ever. Despite an international pandemic, the Central Florida real estate market remained strong through secure in place orders, economic instability, and changes to social norms as a result of COVID-19.
We reported strong numbers in the month of May, and June finished even stronger.
There’s a catch though: People thinking of selling their home are catching on to the great market and are beginning to list their homes for sale in higher numbers. The more homes on the market, the more options there are for buyers.
While we’re still in a sellers’ market, as the gap between supply and demand balances, there are more opportunities for buyers and less competition.
The number of new listings to hit the market is up 8% from May 2020. Those who were thinking of selling are taking advantage of the great market conditions and have regained confidence in the market, making it an easier decision to list their homes for sale. Despite the increase in listings, we’re still sitting in a seller’s market in the most active price ranges in Central Florida. There are more buyers looking to get into new homes than sellers currently listed on the MLS.
The number of active listings has decreased 11% in the last month. This is the number that determines whether we’re moving toward a buyer or seller market. As consumer confidence returns, all those who put off buying a new home are active in the market and buying properties. This indicates a great time to list your home for sale to get a great ROI as buyers are excited to get into new homes.
During the early stages of the pandemic, there was a slight decrease in sales. That number is recovering as sales are up 41% from May to June 2020. The Central Florida real estate market didn’t take a hit on prices or appreciation, but it did on activity. While there is still a lower volume of sales than last year, we’re returning to normal patterns quickly and seeing dramatic spikes in activity.
If you’re thinking of selling, it’s time to pull the trigger. There are many active buyers in the market and fewer listings available than a normal year giving you a great opportunity to get a fantastic price for your home sale.
If you’re buying, get out there and find your dream home. With steading appreciation, you can expect homes you’re looking at now to increase in value significantly over the coming months and years, waiting to buy means paying a higher price for your next home.
Like our Facebook page for our newest listings, live videos, tips and tricks, and updates on the Clermont, Winter Garden, and Windermere real estate markets. Ask your questions and get to know the amazing business partners we work with to help home buyers and sellers just like you in Central Florida.
*Statistics sourced from the Stellar MLS Real Estate Board and all of the areas it covers. For specific information about your community, please click here and send us a message!