The Fall slowdown is in full swing. As is typical in August, sales took a slight dip from the month before.
A total of 1,244(-77) single family homes sold in the month of August in Orange County, which is a slight drop off from July’s 1,321. There is still not a cause for alarm; now that school has started, parents are now settled in for the year.
Sales of luxury homes over $1 Million took a slight dip in August, with 27(-8) sales compared to July’s 35. Two price points of homes, however, did see a slight uptick in sales. In August, 118(+7) homes priced from $400,000-499,000, compared to 111 for July, and 115(+5) homes priced from $300,000-399,000 sold in August, compared to 110 in July.
The most active category, again, was homes priced from $200,000-249,000. August saw 234(-18) sales in this range, less than July’s 252. Homes priced $250,000-299,000 was the second most active category, selling 172(-13) in August, less than July’s 185. 94(-11) homes priced from $180,000-199,000 sold in August, again, less than July, which saw 105 homes in that price point sold.
In August, 612 of the 1,244(49%) homes sold in 30 days or less. This represents a slight change, downward, from July, which saw 668 of the 1,321(51%) homes go in 30 days or less.
Continuing to indicate a strong investor’s market, 336 homes sold were all cash purchases, while 511 were purchased with conventional financing, and 283 with FHA financing.
If you are getting ready to sell, it is imperative, now more than ever, to make sure your home is priced properly, but also marketed aggressively by an agent that understands not only sales, but also marketing.
If you are considering buying, understand that there will be increased competition for every single home, meaning you want to make sure you work with an agent that understands how to make your offer the most attractive offer to sellers.
These numbers continue to represent a strong, vibrant market here in Orlando and Central Florida. It will be interesting to see how sales for September and upcoming months unfold.