If you’ve been wondering, “how’s the Clermont, FL real estate market?” – you’ve come to the right place! Every month we bring you the latest residential real estate data for Clermont (34711) straight from our local MLS (the real estate database all local REALTORS® use), Stellar MLS.
We specialize in residential home sales in the Clermont and Central Florida area, so if you have any questions about buying or selling, contact us today!
What happened last month in the Clermont, FL real estate market?
Below is an overview and summary of the Clermont, FL real estate market last month, October 2022. (Click here to see previous monthly update summaries for 2022). If you’d like more specific data, please let us know by commenting at the end of this post or send us an email.
Number of New Listings
Last month, 102 new residential listings were added to our local Stellar MLS for Clermont, FL (34711). (These are the number of homes, both new construction and resale, that were listed for sale.)
Last year, there were 113 new listings in October – a 9.7% decrease year over year.
Median Days Until Contract
The median home in Clermont, FL went under contract after being on the market for 19 days last month – a 217% increase compared to this same time last year of 6 days until contract.
This is still below the historic median days until contract of 25+ days.
Median Sold Price
The median sold price of homes last month in Clermont, FL was $429,500. This is a 14.5% increase over October 2021’s median sold price of $375,000.
(The median sold price represents the middle of our Clermont, FL residential real estate market.)
To summarize: the number of homes listed for sale is down over last year, and with homes taking longer to sell, inventory is increasing – but values remain high.
Clermont, FL 10 Year Median Sold Price in October
The median price of a home in Clermont has consistently increased in October year-over-year, apart from 2017-2018.
The median sold price increased 14.5% in October 2022 over October 2021, and has more than doubled over ten years (a 168.4% increase).
Is it a good time to SELL in Clermont right now?
The short answer is – yes! Though the number of new homes being listed for sale is slightly up compared with previous years, the overall supply (or inventory) of homes remains relatively low. This is due to the demand from buyers remaining high despite higher prices and rising interest rates. Homes continue to sell faster than ever – often within the first week on the market. This high buyer demand is keeping inventory low, sustaining higher home values.
The most common questions we continue to receive lately from our sellers are related to where they will go after they sell and what will the process be like? Since homes are selling so quickly, many sellers are choosing to rent after selling. Others are trying to buy another home at the same time as selling. Both are very much still possible – it just takes a little more strategy and potential sacrifice with the amount of competition right now from both buyers and renters.
Is it a good time to BUY in Clermont right now?
Although home prices are up and interest rates continue to rise, we still believe it’s a great time to buy. Although interest rates have increased this year, they’re still historically low and on-par with what they were a few years ago. Lower interest rates keep your monthly payment low, increasing your purchase power – keeping higher home prices within an affordable range.
Buying a home is also the best way to lock in your monthly housing payment. With rents increasing dramatically in our area, if you think you’ll be living in the same place for at least 2 years, buying is a great idea.
- Get pre-approved so you’re ready to make an offer the minute your dream home is listed for sale.
- Act quickly. When a new home gets listed for sale that meets your needs and wants, try to see the home that same day or the day after. If you can’t see it because you’re out-of-town or out-of-state, have a trusted local friend or family member see the home for you. We’ve also FaceTimed our out-of-state clients when they couldn’t see a home.
- Work with a dedicated, local, full-time real estate agent. Inventory is changing every day and you need a REALTOR familiar with the area, other local agents, and expert-level knowledge of contract writing and negotiation to beat out other offers. If you’re looking to buy in Central FL, we’d love to help.
Looking to buy or sell a home in Central FL? Contact us today!
Clermont, FL (34711) Monthly Market Update Summaries for 2022
Below is a running summary of each month’s market update, since we update the main top portion of this post every month.