Sales of single family homes got off to a slow start this year, with January posting some low, but interesting numbers, and marking the possible beginning of a few new trends. In January, 815(-334) homes sold, compared to December with 1,149.
Interestingly enough, for the second month in a row, the most active price range of homes sold was the $250,000-299,000 range, with 133(-69) homes sold, compared to December’s 202. The previously most active category, the $200,000-249,000 range, saw 126(-66) sales, versus December with 192. Sales of luxury homes over 1million also saw a slowdown, selling 17(-8) homes compared to December with 25. Sales of all homes over $700,000 saw a sharp decline as well, with only 35(-39) in January compared to December with 74.
In similar fashion, a large portion of homes sold went within 30 days. In January, 373(45.8%) homes sold, small drop percentage wise from December, with 545(47.4%).
There has been a slight increase in homes purchased cash, with 225(27.6%) homes sold in January, compared to December 303(26.4%). Homes financed with conventional financing sold at almost a similar rate than January, with 360(44.2%) compared to December, with 301(44.1%). In January, 148(18.2%) sold with FHA financing, compared to December with 211(18.4%).
There’s several interesting trends to note. Are homes indeed getting more expensive in Orlando? For two months in a row, the 250-299 range was more active, after more than 12 months of the 200-249 range being more active.
A large chunk of homes sold within 30 days, meaning it is incredibly important to make sure your home is priced right, if you intend to sell it quickly.
For buyers, with increasing home prices, interest rates, and competition, it is imperative to make sure your offers are as strong and aggressive as possible.
The strong economy and large tourism draw makes Central Florida the perfect place for investors to build a Real Estate Portfolio.
If you’re ready to buy, sell, or invest, reach out to me at 407.517.8693, or via email at isellcflhomes@gmail.com.