Monday, June 8, 2015 / by Tom Nickley
What's Happening with Real Estate in Orlando?
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Today we'll be examining how the market has performed, and I'll be showing you some statistics that can hopefully give you a clearer picture of what's happening and how it will affect you when you're buying or selling.Overall, the central Florida market has shifted into a strong seller's market. There are several factors that have contributed to it.
We currently have 12,000 homes for sale, and a 3.8 month supply, which is giving sellers the advantage. With this in mind, we've been aggressively pricing homes and we've been getting over 10% more than what other sellers are getting.
Interest rates are still at historically low levels (below 4%), and you should try to buy a home while rates are still low because it will save you thousands of dollars over the lifetime of your loan.Another factor affecting our market is the fact that home values are increasing, and appreciation is up by 9%. This is a good reason to sell, but it's also a good reason to buy because you can count on your home investment being worth more money when you go to sell.
Buyers just need to know that they have to be aggressive when they see a home they like, and they have to act quickly because homes are selling very fast right now.If you need any assistance buying or selling in Central Florida, please don't hesitate to contact me!