March Real Estate Update for Central Florida

Описание: This is your central-Florida real estate market update from Oliver and Devinee at Morgan Property Solutions.

Median sales prices of homes in central Florida have slowed to only 0.7% from a year ago at $227,000. The housing market is healthy, stable, and interest rates are still low so a lot of people are taking advantage of these market conditions and making a move. If you are planning on moving, let us know so we can help you.
The number of property sales is down 14% year-over-year and a combination of both slowing sales and a bump in new listings. The low inventory of homes for sale is still challenging buyers, although we are experiencing an increase in listings up 8% from a year ago.
Sales of distressed homes (which are foreclosures and short sales) are down 35 percent and distressed sales made up less than 5 percent of all transactions.

On average, homes are taking an average of 60 days on the market until going under contract.

Interest rates are still easing upwards but had a slight dip recently down to 4.25%.
The unemployment rate is at 3%, down slightly from last year.
Fair Market Rent prices in central Florida are high compared to the national average. Fair Market Rent for a 3 bedroom unit is $1,576 per month which is a 6% increase year over year.

Thank you for watching our latest market update. If you have any real estate questions or need help purchasing, selling or managing a home, contact us today.