This month we are looking at the stats from the end of October. We analyze that data to see how it compares to the previous year and share what’s going on in the market and what to expect. We are starting to see a clear picture of real estate in Orlando in 2024 and things have drastically shifted from the previous few years. Despite the rising inventory (about double the amount since last year) and lower than average sales all year long, the prices still went up over 3%.

For the full update, read more below or watch the video:

There’s a few new things to discuss this month!

1. The number of homes sold is down year over year.
2. The number of pending homes sold is down year over year.
3. The number of homes for sale is UP. All year we have had more inventory available then in the last 10 years.
4. Despite rising inventory and slowing sales this year, the prices are still up over 3% year over year. This is considered a normal appreciation rate.
5. The balance of supply and demand inched closer to a “Buyer’s Market” with 5.45 months of available homes for sale. Anything over 6 months is considered a market weighted to the buyers advantage.
6. It is really important to note that in pockets where there are less listings available, such as near Downtown Orlando and the surrounding neighborhoods you will experience a different market. In the last 3 deals we have had more than one offer on each one. It’s all about supply and demand and that varies across Central Florida.

It is important to talk to us about the actual market you will be entering as a buyer or seller. Things are very strong in some pockets while others are in a full fledged buyer’s market. I have even seen some pockets of vacation rentals with prices lower than they were a few years ago. But for primary buyers and sellers we are pretty balanced in most popular areas and some still leaning towards a seller’s market.

Depending on your location, there is still time to buy or sell and be settled before the New year. Every location and situation is unique, Contact us today or Give us a call at 407-982-7240 and we’ll walk you through the best scenario for you!

For an update, read more below or watch the video:

There’s a few new things to discuss this month!

1. Interest rates are the lowest they’ve been in 2 years. The impact of lower rates takes time to show up in the stats. Assuming rates remain steady or continue downward we are likely to see a peak in sales at the end of the year or at least remain pretty steady.
2. The number of homes for sale is up since last year and the highest number we have seen in almost 10 years. However the number of listings has been pretty stable the last few months. Since we don’t expect major shifts in supply or demand in the next few months, that’s another indicator that the market will be pretty steady with maybe a slight pop in sales if rates improve.
3. Comparing supply to demand we have a little over 5 months of available inventory which is considered a “balanced market”.
4. Despite rates and slightly lower sales this year the prices have still gone up 2.7% since this time last year.
5. The number of pending sales is up slightly since last year which is another indicator the year end will be steady or slightly higher than where we are now.

If you are thinking of buying a home you have more options than you have had in almost a decade AND rates are looking better. You have more negotiating power than we have seen in many years as long as you are dealing with a serious seller.

As a homeowner thinking of selling, the good news is that prices remain strong and actually in most areas they are higher than they were last year.

There is still time to buy or sell and be settled before Christmas or the New year! Every location and situation is unique, Contact us today or Give us a call at 407-982-7240 and we’ll walk you through the best scenario for you!

There’s a few new things to discuss this month!

1. Interest rates are the lowest they’ve been in 2 years. That’s great news for anyone who has been on the fence. We do expect them to come down a little more this year which will continue to bring new buyers into the market as things become more affordable.
2. The number of homes for sale is up since last year and the highest number we have seen in almost 10 years.
3. Comparing supply to demand we have about 4.34 months of available inventory which is considered a “balanced market”.
4. Despite rates and slightly lower sales this year the prices have still gone up 2.53% since this time last year.

If you are thinking of buying a home you have more options than you have had in almost a decade AND rates are the lowest they have been in 2 years.

As a homeowner thinking of selling, the good news is that prices remain strong. You cannot just expect miracles though. Realistic pricing and your home will sell in a reasonable time and for top dollar.

Every location and situation is unique, Contact us today or Give us a call at 407-982-7240 and we’ll walk you through the best scenario for you!