Sales are down, but the recent rate cut is expected to fuel buyer demand.

Hurricane season is finally over, and I’d like to take this moment to say I hope you all came out of the season safe and with as little damage as possible. Now, we can breathe a sigh of relief that it’s over for the year. 

It’s been a while since I’ve made a market update, so today, let’s talk about the changes and what‘s happening in the real estate market. 

Inventory is creeping up. Right now, we’re sitting at about a 5.1-month supply of homes in Central Florida. Does this mean we’re on our way to a buyer’s market? Not quite, but we are closer to having a balanced market, which typically has around six months of supply.

“Most people are hopeful for a stronger market in 2025.”

Simply put, we are not in a buyer’s market or a seller’s market—just somewhere in between. It’s still important to note that this is the ninth consecutive month in which inventory has increased from the previous month.

Demand for homes is a little softer than we’d like to see. Sales are down by about 12% this year compared to 2023. But with interest rates coming down a bit thanks to some recent cuts by the Fed, we’re hoping to see some higher demand. Most people are hopeful for a stronger market in 2025.

Also, because we are in the last leg of the year, I get a lot of questions asking, “Is now a good time to list my home?” 

To be honest, there’s never really a bad time to list in Central Florida. We don’t have to worry about the seasonal ups and downs that many states up north face. We sell homes in November, December, and January just like we do the rest of the year. Plus, since fewer people are putting their homes on the market during these months, it could be a great opportunity for you.

If you have any questions about the market, seasonality, or what to expect moving forward, I’d love to chat. Don’t hesitate to reach out to us at (407) 499-8993 or chris@mypinnaclehomes.com. I’d love to hear from you.