Here’s what’s going on in our central Florida real estate market lately.

It’s difficult to believe we’re already more than a month into 2021, but we are, so it’s time for a real estate market update. 

There were 4,875 active homes on the market in December; the last time we had inventory below 5,000 was in July 2005. The lowest we’ve seen in the last 20 years was April 2005 with 2,947 active homes. In the last 16 years, we’ve had quite a bit of growth, so from a percentage standpoint, this is the lowest level of inventory we’ve seen in central Florida in at least the last 20 years, maybe ever. 

That means it’s an excellent time to sell. Last weekend we put a home on the market, pricing it a little high at $950,000 based on the comps, and received several offers. The highest offer, which we took, was for $1,250,000, or $75,000 over the asking price. The appraisal could be a challenge, but these buyers are strong, putting down plenty of cash.

“This is the lowest level of inventory we’ve seen in central Florida in at least the last 20 years, maybe ever.”

All this may be freaking out buyers, but don’t fret. There is inventory, and we have access to listings not on the market. That’s a value we provide our clients that many real estate agents don’t. Don’t worry, it’s still a beneficial time to buy because interest rates are so great. That’s also why we aren’t seeing inventory increase—because buyers see that it’s an opportune time and they’re scooping up houses immediately.

Don’t forget about the Parent’s Night Out event we have coming up soon; there are still spots open. If you have any questions about that event or the real estate market, please give us a call or send an email. We would love to help you.