Monday, February 22, 2016 / by Tom Nickley
Avoid Missing Out on a Hot Orlando Market
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Traditionally, many sellers are on the fence about listing their home for sale this year. Today, I’ll share with you some reasons why now is an opportune time to sell your Orlando home. We’re experiencing a hot market right now in Orlando. It’s expected to continue for the rest of the year.
Buyer demand is far outweighing homes for sale. There’s not enough listings to keep up with the pace! All kinds of buyers, including first-time home buyers and vacation home buyers, are eagerly flocking to Central Florida. Additionally, they’re having a difficult time finding a home within their price range.
The Orlando market has experienced seven months of decreasing inventory. This month, we have 10% less homes for sale compared to this time last year. There’s a lot of reasons for this. Interest rates are still historically low and this motivates buyers to enter the marketplace. Also, it’s 30% cheaper to buy a home than rent one. Lastly, it’s easier to obtain a mortgage now than in the past.
What does this mean to real estate consumers in the surrounding Orlando area? It’s old fashioned supply and demand. From the influx of buyers, sellers now are in the driver’s seat and are aggressive with their home sales. Frequently, sellers earn more than the asking price when selling their home.
If you’re thinking about buying or selling, reach out to me. I can serve your real estate needs. Give me a call or send me an email at your earliest convenience!