What you are seeing in the graphic above is the Real Estate market stats for March 2022 for only the Orlando, Kissimmee and Sanford areas from the Florida Realtors Association. Last time I covered all of the MLS area that our Stellar MLS (Multiple Listing Service) covers. Our MLS covers most of Central and Southwest Florida. This time I will narrow it down to only a few areas. As you can see in the first block, homes are selling at 100% of median list price. Which means pretty much every home listed is getting exactly what it is listed for or more. Now know that we are using median here not average… so it means that the lowest and highest percentages are thrown out to get a more accurate picture of what is going on. So most likely if you are looking to buy a home at this time… you are not going to be paying anything less than asking price. It also shows we have 3968 new listings this month which is 4.5% more than last year this time. So more people are making the decision to get off the fence and are ready to sell. That might help keep prices stable a little, but there are still tons of buyers and we need a lot more inventory. As you can see in the next block, we have less than 1 month of inventory of active homes on the market and that stat is down from last year this same time, so this means there will still continue to be upward pressure on prices somewhat. Supply and demand is also very important in Real Estate and plays a large role in pricing just like everything else. If you are looking to sell and want to upsize or downsize and are able to afford the next home…there is no better time to sell. The next block (the beige block) shows that median time to contract is 7 days. 7 DAYS !! That is amazing…that means if you put your house on the market today you will likely have a signed contract (or two) ready to go in a week. Thats down 12 days from this same time last year. As you can see from the orange block the active inventory for our area is down almost 10% from last year this time, which like I said is keeping prices up. We need people who want to sell…to sell. The last block is pending sales… meaning that the home is under contract and is going through the sales process. This number is down 9.3% from last year this time. A lot of factors contribute to this … such as the lower number of homes on the market, faster sales times, and short time to contract stats. All in all rates are still low and creeping up slowly, the market is very good for sellers and a little tougher for buyers, but buyers can still keep their payments low with low rates, but most likely are not going to find any cheap steals or deals.
Published by Todd Your Local Realtor
Local Orlando Realtor for over 10 years. I love seeing the smiles on the faces of my buyers and sellers when the transaction is complete. We as Realtors have a duty to our customers/client to help them along the journey of the transaction. Every owner is different and every transaction is different. Listening to my customers/clients is very important and helps me know and anticipate their needs want and desires in a home or what they need of me. I believe in a simple and honest approach to Real Estate no sugar coating. View more posts