As usual home sales have slowed a little due to the start of school in August, a busy time for many, but essentially the market is still good.
However, the Federal Reserve is discussing when to raise interest rates (it may happen as early as spring 2015) so now is definitely the time to buy or sell. Higher interest rates can have a negative impact on home affordability. They can slow down price increases for Sellers while reducing the amount of money a Buyer has to spend due to these higher interest payments. Current interest rates are still at historic lows, making it the perfect time to get in the Central Florida real estate market, whether as a Buyer or a Seller.
We hope our monthly market updates (including our July 2014 market update) help with your real estate needs when it comes to buying or selling your next home in Central Florida.
In the Orlando region (Orange, Osceola, Seminole and Lake counties), the median sales price decreased by only $211 compared to last month, coming in at $165,020 for August 2014. Month after month in 2014, the numbers have not been impressive, but are climbing. Buyers are still coming off the sidelines and into the marketplace looking for their piece of the American Dream. Have no fear, if you're looking for a new home, there are currently 13,827 active homes on the market in Central Florida. If you are considering buying a home, contact an Accredited Buyers Representative (ABR) now to decide if this is the right time for you to buy your first (or next!) home.
Median Sales Price (% Chg)
Orange - $175,000 (+4.8%)
Osceola - $149,950 (+8.7%)
Seminole - $177,350 (+10%)
Lake - $157,781 (+13.5%)
Active Listings (% Chg)
Orange - 6363 (+52.5%)
Osceola - 2608 (+56.3%)
Seminole - 2,184 (+42.7%)
Lake - 2,672 (+16.4%)