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Our Central Florida market is a tale of three different markets.

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What’s happening in our Central Florida market?At the moment, inventory is very tight. As of the recording of this video, there are 7,837 homes available. Last year, there were 8,272 homes available at this time.In effect, our market is a tale of three different markets: the entry-level market, the move-up market, and the luxury market.The entry-level market includes homes priced at $350,000 and under. Inventory is extremely tight here. In most cases, there is less than a one-month supply of homes (a balanced supply is considered six months).

At the moment, inventory is very tight.

The move-up market includes homes priced from $350,000 to $600,000. Here we have slightly less than a six-month supply of homes, which means conditions are more balanced and more inventory is being listed compared to last year.The luxury market includes homes priced above $600,000. In some cases, we have as much as two years’ worth of inventory in this market. We also have a lot of shadow inventory in this market, which means a lot of homeowners would like to list their home but haven’t yet. Essentially, they’re waiting for a buyer to be brought to them.If you’d like to know more about our Central Florida market and where we see it going in 2020, don’t hesitate to reach out to me. My team and I would love to help you. I hope you have a great holiday season!