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CENTRAL FLORIDA MARKET TRENDS
I find that both buyers and sellers are always surprised to hear whats going on in the market. Many people feel informed by whats going on in the Sunday news and while that information is always great its rarely localized to an immediate area. Its important to stay as informed as possible when you enter the marketplace. When we go to the grocery store and suddenly see the price of eggs go up we want to know what the heck is going on. The same applies to home buying and selling.
The Central Florida housing market has always been a fast moving one especially when compared to the national average. There are many factors that aid this general trend and I have found that one of the bigger factors is we often have a lot more people entering the state as new residents on a regular basis. Lets face it while Oklahoma is a great place not many are running to settle down there and enjoy it's beaches, theme parks and national preserves. Again not bashing Oklahoma its a GREAT place, but so many people come to Florida to vacation and decide they just don't want to leave.
Here are some of the numbers to keep you informed on Central Florida Real Estate
Illustrated below are some really and several things REALLY stand out. In the past 12 months the median price has increased 7% overall and that means that the $200,000 home thought about last summer is generally at or above $215,000 now. As you can also see the number of distressed sales (foreclosures and short sales) is down just about 50% so that means no more FIRE SALES that so many people looked for a few months ago. Then we see some very interesting trends in the condo market. Condo sales are finally seeing a long awaited upward trend and its a big one! Condo median sale prices are up 22% overall AND to go right along with that figure inventory is down 22%. So when searching for that vacation beach getaway there is a lot less to choose from.
Overall the Central Florida Real Estate is looking GREAT. Keep in mind that OrlandoRealtor.org current data indicates year to date that new inventory is down -19% while new contracts or pending sales are up +21% and approximately 30% of all new listings went pending in under 7 days and a total of 50% of all listings are pending sale with in 3 weeks.
So hit the ground running with this up to date info in hand! Stop by and like my Facebook page for ongoing info as well @daniellecalabreserealtor
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