Buyers Are Back!

April 7, 2023

From July 2021 through February 2022 we felt the market slowing.

Rates increased. Homeowner’s Insurance increased. Property Tax increased. Hurricane Ian hit. Mortgage Payments went through the roof and buyers put the brakes on. Properties were taking longer to sell and values were moving downward.

But, since February 10th, buyers have re-engaged the market. Homes are being sold quickly. Inventory is decreasing. Home values are stable. Some houses are getting multiple offers again.

Our hunch on why buyers are back in the game is that the dream to live in Florida instead of New York, New Jersey, Illinois, and other snowbelt states is alive and well. We do have local moving going on, but the majority of our buyers are moving into the area from other states.

The Florida Chamber of Commerce projects the population of Florida will reach 26 million people by 2030 – 3.5 million more people than we have now. That means 1,370 people per day for the next 7 years or nearly 10,000 people per week. Based on this trend, we believe Florida real estate will remain positive over the next few years.

So, congratulations! You beat the rush and got into your home before Florida crossed 26 million people. If you have friends or family who plan to move here, we want to help them. Share our newsletter with them or introduce us!

March Clermont Market Update

Last month, the number of homes listed for sale was down 6% over last March. As of April 3^rd, there are 146 single-family homes for sale in 34711 and 144 homes under contract. Most homes are taking longer to sell, though if it’s in great condition and priced correctly and/or competitively, it may sell within a few days.