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In Central Florida, the real estate market has seen some interesting changes recently. Let's take a closer look at what's happening with homes, prices, and how long houses are staying up for sale.
Active Listings and Inventory
There are more homes available for sale this year. In 2024, there are 10,205 active listings, compared to 6,748 in 2023. This means buyers have more options. Currently, there's about four months' worth of inventory, which means if no new homes were listed, it would take four months to sell all the current listings.
Prices in Different Areas
Here’s how average home prices for existing 3-bedroom, 2-bathroom houses (without a pool) look in various places:
St. Cloud: $354,372 (down from last year)
Kissimmee: $375,723 (up from last year)
Celebration: Not Available
Poinciana: $272,118 (down from last year)
Davenport: $322,550 (down from last year)
Champions Gate: $333,580 (down from last year)
Haines City: $311,248 (up from last year)
Winter Haven: $288,533 (up from last year)
Lake Wales: $260,638 (down from last year)
Orlando: $397,338 (up from last year)
Lake Nona: $512,718 (down from last year)
Hunters Creek: $420,000 (up from last year)
Dr. Phillips: Not Available
Deltona: $312,738 (up from last year)
Key Tips for Buyers and Sellers
For Sellers: With prices generally up and more homes on the market, it’s important to price your home right to attract buyers. Expect it to take a bit longer to sell than in previous years. Because houses stay on the market longer, it's more important than ever to work with a realtor who has a strong, effective marketing plan. Top real estate agents and the best realtors can help you stand out in this competitive market by hosting open houses and utilizing targeted advertising.
For Buyers: You have more choices this year, so take your time to find the right home. Since prices are up in many areas, be ready to negotiate and have your finances in order. Looking for real estate agents near you can help you navigate the market efficiently and find the best deals.
General Advice: Working with an experienced realtor can help you navigate these changes. They can provide insights into pricing, help you find the best deals, and ensure a smooth buying or selling process. The top real estate agents will know the local market trends and can offer valuable advice to both buyers and sellers.
By understanding these trends in the Central Florida real estate housing market, you can make better decisions whether you're looking to buy or sell a home.
Schedule time today for your own consultation to understand how today's market impacts you as a future buyer or seller.
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