According to the latest housing data released by Florida Realtors®, Florida’s housing market is on the rise! In fact they site more sales, higher median prices and pending sales. Want some numbers? Well, here’s a big one: 72,843 closed single-family homes at the end of the third quarter for 2018! That’s a 7.5 percent increase from 2017’s third quarter figure!
Why are we telling you this? Because these numbers give you a reason to sell! If you’ve been pondering on whether or not to sell in this market, then think no further! With higher sale rates and prices, right now is a great time to put your home on the market.
More People Could Be Looking To Buy
There are a few reasons that trends lean towards more buyers. One of them is that unemployment is decreasing in Florida with only a 3.5 percent rate, while the rest of the U.S. averages at 3.7 percent. Furthermore, in 2018’s third quarter, Florida had a 64.4 percent home ownership rate. Theses statistics support the fact that more people have the means and desire to buy!
Following this trend, new listings continue to rise for single-family homes and condo-townhouse
properties. But wouldn’t that mean more competition? Not necessarily, because an increase in inventory would likely encourage home buyers to enter the market.
In the end, closings have increased—up 9.5 percent from 2017. Right now could be a perfect time to get your house on the market and sold for a price that benefits you!
Median Sales Prices Are On The Rise
The median sales price for single-family existing homes in Florida is up 6.3 percent! With the median sales price at $255,000 in 2018’s third quarter, it’s no wonder there were 28,894 condo-townhouses sold. Rising median points could mean a higher price tag for your home if you’re hoping to upgrade or come out of the deal with a good chunk of change.
Moreover, short sales have declined significantly, while traditional sales have risen. Plus, closings have typically occurred within thirty to ninety days from a contract being written up. With fewer short sales, rising traditional sales, and a fast closing process, your profit and satisfactory from the sale could be much more substantial than you thought.
Our Advice
Be sure that you talk to an experienced Realtor in your community. If you’re still on the fence, talk to a trustworthy Realtor who can provide you with a realistic look at the market in your area. While Florida real estate is on the rise, every person’s home situation can be different.
Looking to sell in Apopka? The Michelle Chase Team can help you with every step of the process. Voted one of America’s Top 100 Realtors, this team will keep you in good hands throughout your real estate journey! Find your Apopka Realtor today by visiting: https://michellechaserealtor.com/
