The first day of fall is just around the corner! We are looking at the numbers to determine if this “hot” summer selling season will continue through the rest of the year. It really has been a hot year and more so for the Orlando real estate market. I feel like multiple offers have been ongoing for several years now, but certainly things have ramped up in 2021 to make things even hotter!
Breaking down the numbers:
Each year we usually see a slight slowdown in the real estate market in Central Florida between September – November. And what I mean by that is the number of sales is a little lower in those months than the summer season. That’s not necessarily the number of buyers searching. Then we usually see the sales peak back up in December and cool again at the first of the year.
I mentioned in last month’s “what’s trending” post that I am curious to see if we experience the same slight seasonal shift in this “post” COVID world. A quick look at the August numbers does suggest we might.
The numbers show year over year gains in number of homes sold and the average sales price is up to $379,382. The prices are up 16.36% since this time last year. With the low inventory the average days remained at 26 days on the market – which is just crazy low!
Market Factors:
Will things slow this Fall?
- The numbers for August are slightly lower than July 2021 and the pending sales are down slightly indicating the September sales will go down month over month. Typical for this time of year
- The number of listings has gone up SLIGHTLY. A few more listings is a good thing to us as real estate agents and our buyers, but a few more listings on the market does tend to balance things a bit.
- The average list to sales price ratio is back down below 100%. That’s a sign of normalizing a bit.
ALL of this is just to say it looks like our Fall season will be pretty normal with a slight slowdown in sales happening. BUT keep in mind a slight slowdown from record highs is still record highs for our market area. To put it in perspective, normally this time of year the number of sales is around 3000. For 2021 its around 4000. That’s 25% more sales happening every month. And we have very roughly 2.5 TIMES LESS available homes for sale. Each month we are selling more homes than we have available for sale at any given time.
So major market shift or slowdown – not really. Just typical seasonal shifts. Want to learn more about selling this Fall and how the market is doing in your direct neighborhood? Give us a call at 407-982-7240 and ask for Kathryn or email me at kathryn@thinklivebe.com