Are we still in a Seller’s market?
The answer is 100% yes we are! With inventory STILL low, what traditionally is a Spring fling of new homes for sale is shaping up to be something very different.
The National Association of Realtors (NAR) confirms today’s housing inventory is low by looking at the months’ supply of homes on the market. In a balanced market, about a six-month supply is needed. Anything lower is a Sellers’ market. And today we are at roughly a 2 &1/2 month supply of homes.
Though inventory may still be low, it isn’t the madness of multiple offers and frenzied buying we saw last year or so. Todays Buyers want homes with the most appeal, inside and out. Several of these Buyers have been waiting for their time and are no longer willing to take just any home they can get their hands on. With the average number of offers on a home being just 2.7, Sellers need to also be aware their home should be in show-ready/move-in ready condition to receive top dollar.
Listed By Lana
We have just made a massive price improvement on this gorgeous .78 parcel in Groveland, FL. This lot offers LAKE ACCESS in the gated community of Garden City!! Surrounded by rolling hills and tree farms while providing easy access to everything you’d need, there isn’t much this property doesn’t offer. There are no time restrictions or required builders for this serene land.
Who do you know looking to build their Dream Home or purchase land for a long term hold?!
Call me TODAY for more information!
407-341-8814
Orlando Real Estate Market – Weekly Update
April 02, 2023 – April 08, 2023
Single-family existing homes
- Sales of single-family homes decreased to 408 during the week of April 02, from 519 the week prior
- The median price of single family homes decreased to $410,000, a change of -3.2%
- Single-family inventory decreased by 93, and now sits at 3,746
Sales of condos, townhomes, and villas
- Sales of condos, townhomes, and villas decreased to 136 during the week of April 02, from 181 the week prior
- The median price of condos, townhomes, and villas increased to $288,000, a change of 9.5%
- Condo inventory decreased by 9, and now sits at 1,370