The Real Estate market here in Orange County Florida is starting to really heat up in an interesting way. April once again saw an increase in homes sold than the prior month, with 1,187(+37) single family homes sold, compared to March with 1,154.
Although there was an increase in homes sold, the more active categories saw a dip for the month, while slightly more expensive homes saw a surge in sales. The most active category, once again, was the $200,000-249,000 range with 227 (-8) sales, compared to March with 235. The 250,000-299,000 category almost matched the production of the month before, with 168(-3) sales compared to 171 for March. Luxury homes over 1 million saw an increase in sales, with 31(+7) compared to 24 for March. Total sales of luxury homes over $700,000 saw a slight decrease, as April saw 57(-12) sales, versus 69 for March.
In an interesting trend, there has been a sharp increase over the last few months of homes sold within 30 days. For instance, in February, only 376(42.2%) of homes sold went within 30 days. March saw a sharp increase of 585(50.5%), and April continues that trend, with 629, or 53% (+2.5%) within 30 days, signaling almost a 10% increase over the span of 60 days!
Of all homes sold, 282 were purchased cash, or 23.8%(-0.6%), which is a slight dip from March with 282 and 24.4%. Conventional financing was responsible for 510 sales, representing 43% (+2.7%), up from March with 465, 40.3%. For April, 248, or 20.8% (-0.5%) of homes purchased used FHA financing as opposed to March with 247 or 21.4%. VA financing saw a dip in April with 61, or 5.1% (-1.5%) compared to 76 or 6.6% for March.
Competition is starting to get more and more fierce. If your home is for sale, and its been more than 30 days, with the majority of homes selling within 30 days, you have to ask yourself why. Working with a Realtor who knows different aspects to sales can help boost your sales options.
If you are a buyer, you better be ready. Competition is fierce, homes are getting sold faster, for more money, with more offers, and only the best of the best offers are being taken seriously in this kind of a market.
Investors, working with an aggressive, experienced agent, who knows all aspects of the Real Estate market will help ensure your success.
Are you ready to buy or sell? Call or email me right away and let’s chat! 407.517.8693, isellcflhomes@gmail.com.