If you need assistance, please call 407-603-9240

How to Take Advantage of the Orlando Real Estate Market

Monday, May 4, 2015   /   by Tom Nickley

How to Take Advantage of the Orlando Real Estate Market

Want to sell your Orlando Home? Get a FREE home value report | Want to buy an Orlando Home? Search all homes for sale 

Last year we saw a strong buyer's market, but this year we are seeing a shift to a strong seller's market. This is partially because we've seen a drop in inventory levels and existing home sales have increased by 30% since this time last year. There is currently only a 3.5 month supply of homes on the market, and the average days on market is sitting right at 72 days. 

This is certainly putting sellers in the driver's seat. Historically low interest rates are also helping sellers because it's encouraging buyers to go out and purchase homes. However, rates are expected to rise by the end of the year and this is pushing even more buyers onto the market because they're worried about losing out on a good deal.

This is all resulting in healthy increases in property values all across central Florida. On average, home values increased by 8.5% from March 2014 until now. Another 7-8% increase in values are expected this year as well. 

This means that the market is actually going to be great for both buyers and sellers. Sellers are seeing unique conditions where if their home is priced right and in good condition, they can sell for top dollar and even get multiple offers. Buyers are taking advantage of historically low interest rates and loosened credit requirements. However, buyers absolutely need to be approved in order to buy the home that they like since the market is so competitive right now.

Even when buyers take a day or two to think about a home, we're seeing people coming in and purchasing that same home. This is how quickly the market is moving.

So, if you need help buying or selling this spring, please don't hesitate to contact me. It's a great time to enter the real estate market!

  market updates

The Nickley Group
Tom Nickley
11 S. Bumby Ave, Suite 200
Orlando, FL 32803

mls logo© 2024 My Florida Regional MLS DBA Stellar MLS, Inc.. All rights reserved. The data relating to real estate displayed on this website comes in part from the Internet Data Exchange (IDX) Program of My Florida Regional MLS DBA Stellar MLS, Inc. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers' personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law.7/23/2024 7:33 AM CST
This site powered by CINC: www.cincpro.com