This month’s market update is all about the market cooling down.

We are starting to see things cool off a bit in our real estate market. We’ve seen fewer multiple-offer situations and lots of buyer fatigue. Inman released an article saying that buyer confidence is currently the lowest it's ever been.

In this cooling market, we're seeing fewer showings on our current inventory, and the properties that are still getting multiple offers on are not getting as many as they were a few months ago. For $300,000 to $500,000 properties, we can expect 10 to 20 offers.

“Data is showing us that things are cooling down.”

The number of showings is down as well, and we've actually had a few listings sit on the market for over two weeks, which is very rare. Inventory went up to 2,478 units, which is 165 more than in March. Sales in March were down year over year from 4,268 to 4,100.

Since we're not seeing as much activity, it could be that the best time to sell a home has already passed. If you know someone who’s been considering selling, I would encourage them to start having conversations with a real estate agent in their area. Give us a call at (407) 499-8993 and let us know what we can do to be a resource. We look forward to hearing from you.