Summer is in full swing here in Central Florida and the market is just about as hot as it is outside. The numbers are in and we’ve been setting records. For the first time in a 20 year recorded history there were 4,414 homes sold last month. That’s the highest we’ve ever seen. The number of homes for sale is still at record lows too. That imbalance of demand and supply lead to an average sales price of 18.87% HIGHER than last year. To give you some perspective, a normal appreciation rate year over year is 3-5%.

So as you can see Central Florida Home sellers are reaping the rewards of a strong market with top dollar prices. Another historic number we spotted this month is that the average LIST to SALES price ratio is now sitting over 100%. That’s unheard of!! Usually the average list to sales price ratio is somewhere between 96-97%, meaning that on average sellers are earning 3-4% less than their asking price. If you are a homebuyer it’s important to know this when making offers. Gone are the days of negotiating a lower than asking price offer unless there are extenuating circumstances. If you want to negotiate – it’s best to look for homes that have been on the market for 30+ days or possibly the first offer fell through. Those sellers will have a little less negotiating power at those critical points.

Ready to cash in your equity? Check in to see how much you have earned over the last year of huge increases! Keep in mind, every price point is different. Watch our monthly market video to learn even more about what’s trending in this market.

Ready to move? Call to understand what this means for your specific circumstances. Ask for Kathryn 407-982-7240