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!

What we’re seeing now is pretty much what we’ve experienced this whole year, and that is interest rates that are remaining high, and that has pushed the amount of demand down because it just makes it unaffordable for some people to buy.

The number of home sales is down slightly from this time last year, with a little over 2600 homes sold last month. That is lower than we’ve seen in recent years for the summer months.

While demand is down, supply is up – the number of homes for sale was 10,796 at the end of June, double what was available last year. If you’re thinking of buying you have more options today than you’ve had in years. When it comes to supply and demand (so what dictates what prices do), having double the number of listings available – while good for buyers and for competition – is not enough to see price changes. We would have to see thousands more listings or demand to decline drastically for it to be so out of balance for prices to be pushed down.

So we see an increase in average sales price, median sales price (2.6% higher than last year) – if we continue to see more listings and demand remains the same or goes down, that’s when pressure will be put on those prices to come down. So when we see headlines about prices declining, they’re really referring to asking prices, not the sale prices. Only time will tell! One thing is certain – interest rates are putting pressure on the availability of buyers in the market, and over time this could continue to erode sales prices. If the rates come down, we suspect that a lot of pent up demand would hit the market and immediately put things back into a seller’s market.

In summary, if you’re a buyer, you have a myriad of options right now and more negotiating power. For sellers, prices are great! You may need to accommodate for the market you’re in, but this is still probably the highest price you’d get for your home if you sold right now.

We’re always here to guide you through all the market changes and make sure you’re taken care of. Give us a call at 407-982-7240 and we’ll walk you through the best scenario for you!