Real Estate in Review for January 2018
Interested in pursuing a home purchase soon? The question we are hearing from a lot of buyers right now is, "Should I wait until next year to buy? Or buy now?" Interest rates are going up and prices are as well, we say BUY NOW before it gets TOO expensive for your pocket.
Orlando Regional Realtor Association's Market Pulse stats are out for January 2018 and what we see may be shocking to you!
Average Price of all homes sold in January 2018 is $225,000 (an increase of almost 13% from January 2017).
Current inventory is 7,604 homes available for purchase in the MLS (inventory is lower by 11.1% compared to January 2017).
Average time homes are spending on the market is approximately 63 days, although we feel they go MUCH faster.
The average home sold for almost 97% of it's list price. No crazy steals are happening right now in the current market!
This is good news for you sellers out there too. We need homes to sell our buyers, prices are going up and buyers WANT TO BUY!