We won’t see price drops until more inventory appears on the market.

We just got the data for October, so today we’ll update you on what’s going on in our market. This has been the fifth month in a row where inventory has risen. However, it only rose by 29 units, so it’s remaining relatively flat. Until inventory starts meaningfully rising, we probably won’t see any falling prices.

For buyers, this means that the market is cooling off a little. Not every property is getting multiple offers, and when one does, they receive fewer than before. There's a chance that you could be the only one bidding on a property. We're seeing properties sitting on the market for a couple of weeks or months that are actually reducing their price. If you're someone who’s been waiting for the market to cool down, now may be the time for you to get into the marketplace as rates are still very low.

For sellers, this all means that things are not as strong as they were earlier this summer, but if you're thinking about selling a property, now may be the right time.

If you have any questions, don’t hesitate to give us a call at 407-499-8900. We look forward to hearing from you.