Some incredible things are happening in Clermont real estate values:
The bottom of our real estate market occurred in January of 2011. In that month, 65 homes sold in Clermont with an average price of $159,241 and took 123 days to sell. In that month, homes sold for $74 per sqft. Last month (January 2018), we saw 70 homes sold in Clermont with an average sold price of $265,007 and took 67 days to sell. Last month, homes in Clermont (34711) sold for $120.62 per sqft. Don't forget these numbers are averages. Close to half of the inventory is above and below these numbers.
Looking to the future, there is no way to know what to expect. Experts have been predicting a slow down in value increased for the past 3 years and it hasn't happened yet. It will happen eventually. The question is "when?"
Here is my opinion: We are anticipating a 30% increase in population in Central Florida between 2010 and 2030. Clermont and Lake County are on pace for that rate of growth. That means demand for our housing is and will remain high. That also means the tension between supply and demand will be healthy.
As long as the economy remains healthy, the only actor that could affect our housing values in the foreseeable future is interest rates. Right now, interest rates are in the low 4's. I think our market and our values are safe in the 5's. I think we begin to see a downturn if interest rates reach the 6's.
If you know someone who is thinking of buying or selling, I would love to have a conversation with them about the timing of their move and all of the factors that go into making that decision.
HOME-SELLING TIP If you are in a multiple-offer situation, don't just raise your offer. Raise your offer and write a heart-warming letter to the sellers so they have an emotional reason to say "yes" to your offer and not others. It works!
Median Price for Sale
Median Sold Price
(past 30 days)