Brace yourselves for a strong Seller's Market this winter and spring. We are heading into the new year positioned for buyers to have to compete for homes - resulting in appreciation gains for homeowners, yet again. If you have considered selling your home lately, this spring will be a great time to do it. Here are the numbers:
When we're looking at the status of our market, we consider the homes for sale vs. the homes that have sold in the last 6 months; then we factor in the homes currently under contract. This data reflects a slowed market this last fall for 34711 as there are just very few homes for sale right now. In the last 6 months in Clermont (34711), 706 homes have sold. There are 333 homes currently on the market. On first glimpse, this sounds like a major sellers market with about 3 months supply (we consider a 6 month supply to be a market of equilibrium where values would remain the same). However, the data is more complex than this. See below:
I have several clients who have approached me about selling their home this fall, and I have encouraged them to keep their home off of the market in December for the holiday season. Very few buyers are out during this time and it is a great inconvenience to the sellers during the holiday season to keep their home in show-ready condition. Several of my clients will be listing their homes in January and we anticipate a strong performance for their listing.
No one has a crystal ball and I am not trying to predict the future. However, interest rates are still low, rent is high, and people would rather own than rent.
We're getting ready for the spring in our office! If you are considering buying or selling your Clermont home, I would love to have a conversation with you about helping you accomplish your goal.
The Hancock Real Estate Team
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