This summer is in full swing in the Real Estate world here
in Orlando. Homes are selling faster,
for more money, than at any other point of the year.
The month of June saw another sizable increase over May,
which had a sizable increase over April.
For June, 1,350 (+70) homes sold compared to May with 1,280. The most active price range was once again
the $200,000-249,000 range, a departure from the previous month. This price range saw an increase, as 256
(+41) homes sold, compared to May with 215.
Both months had the same amount sold in the $250,000-299,000 range with
223. Sales of luxury homes over $1
million went up to 38(+1) for June, compared to 37 for May. There was a more sizable jump in sales of all
luxury homes over $700,000, with 95(+21) for June compared with 74 for May.
Sales are now happening at a much faster pace as well. In June, 764, or 56.6%(+1.7%) of homes sold
within 30 days, compared to 703, or 54.9% for May.
Sales with cash purchases also dipped slightly for the
second straight month, as the two months hosted the same numerical figure of
289, representing a slightly lower percentage for June (21.4% to 22.6% for
May). Sales completed with conventional
financing were only slightly up in June, with 619 (45.6%) compared to May with
582 (45.5%). Sales with FHA financing
saw a modest increase in June with 291(21.6%) as to May with 270 (21.1%). Sales financed with VA financing went from
69(5.4%) in May to 65 (4.8%) in June.
What does this all mean for you?
As a buyer, well…homes are selling faster, in a more
competitive market, and for more money.
Its not so much the investors, as evidenced in decreasing cash
purchases. Despite everything you may
hear in the news, Central Florida is home to a strong, robust housing market,
and as a buyer, you need to be prepared to be able to leverage that in your
favor. Strong offers and extra
incentives such as higher down-payments or faster closing times will help.
As a seller…if your home has been on the market more than 30
days, when close to 60% of homes are selling within 30 days, why? Do you need a reduction in price? Are there repairs you can make to show your
home in a more attractive light? Would
you benefit from a home stager? Is your
Real Estate professional doing the best they can?
Investors, why are you not already in this market? With homes getting more and more expensive,
and inventory becoming less and less available, renters will be looking for
their next homes, and home buyers will be more and more aggressive in their
efforts.
Ready?
Call me. Let’s chat!
407.517.8693 / isellcflhomes@gmail.com