So, news came out earlier this month that the housing supply
here in the US, especially Florida, hit an all-time low. A lot of folks are asking what exactly that
means.
Depending on where you stand, that may or may not be a good
thing. Here in the Orlando metro, there
are 15.8% fewer homes on the market, and they are spending on average 6 less
days on market than last year. Naturally, with less homes on the market, prices are going up, and homes
for sale are starting to get top dollar.
For sellers, that’s a really good thing. If you’re thinking about selling your home,
now is indeed the time. Especially going
into our summer season, buyers will be more competitive, prices will go higher,
and homes will spend less and less time on the market. Now is the time to make sure you’re ready to
sell.
For buyers, Orlando Real Estate is a competitive market as
it is. Add the shortage of inventory in
the mix, and you will indeed see higher prices. Be prepared to put your best foot forward when entering your initial
offer, and assume that you will be bidding against other buyers on every single
home you see.
Real Estate in Central Florida is always competitive, so it is
super important – now more than ever, to make sure you’re working with the
right agent. Give me a call right away
and let’s talk!