Market Update- 32806 February 2019

 

What has been going on in 32806? As one of Orlando’s hottest zipcodes, this region shows no signs of slowing down. At Metropolis RES, we have to analyze market conditions for each and every house we list, for each offer we submit, and for every appraisal report we prepare. It’s become one of our favorite tools and we find it to be very insightful in assisting our clients with maximizing their goals. Using this data helps us apply strategy in each and every transaction, whether we are representing a buyer or a seller.

The data above can be summed up easily and it’s certainly reflective of a strong market that is not showing any signs of slowing down. 

Over the past 12 months, we see a typical and seasonal drop off in the number of sales. This is not unusual, nor is it alarming. The number of listings remained consistent and so the result is an increase in the months of housing supply. Do NOT fear! These figures are still reflective of a short supply. 32806 will continue to experience conditions that keep sellers in the driver’s seat.

This shortage of supply to meet the demand is resulting in a continuous rise in median sales prices over the course of the prior 12 months. We see median sales prices climbing from the height of the summer action at $303,000 to $324,900 during our Winter “slow” period. Not bad, 32806. This is not a common occurrence all over Orlando. The increase is approximately 7% over the prior 12 months. Economists are expecting a continuation in appreciation during 2019. Most agree that a figure of 4-5% is likely, with some areas (Orlando?) seeing even more.

Median list prices remain relatively stable at 98%, with the same being true for list/sales price ratios. According to the data, approximately 35% of all sales include sales concessions with the median concession amount being $5,000. Knowing all of this data helps us build a pricing strategy when listing a home, so we can keep the net amount due to the seller at it’s max!

As always; if you have any questions, are considering selling your property or know someone who is, please reach out to one of the expert sales analysts with Metropolis Real Estate Solutions, LLC. We are ALWAYS ready to help you achieve your home-ownership goals. 

About The Author

Megan Johnson Judd

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Adam Judd

(407) 282-1600 *1

Broker/Owner
Cert Res RD 4142

Megan Judd

(407) 282-1600 *2

President
Cert Res RD 3035