The last month of the year is here, and it’s a good time to look back at what the local real estate market conditions are telling us.
Over the last six months in Clermont (34711), 715 homes have sold. Currently, in 34711, there are only 259 homes for sale. That means we only have a two month supply of homes for sale – this is a very low supply of inventory to sell to buyers. To make a long story short, less than a six month supply of inventory means we’re in a seller’s market. A seller’s market means values are going up which means it’s the perfect time to sell.
A seller’s market = values are going up = the perfect time to sell.
For buyers, the news is good, too. While home values are up and you may have to compete with other buyers for a property, interest rates are very low. Low interest rates mean you can afford more home for your dollar. Buying the home you want should be done now while the payments will be lower. If you wait and interest rates go up again, you may not be able to afford the higher payment for the same house. Low interest means equal lower monthly payments, which means you can afford to buy the house now.
Low interest rates = lower monthly payments = you can afford the house now.
The holiday season sometimes begins conversations about where you will celebrate next year’s holidays. Some may be thinking it’s time to downsize after this season, while others may be ready to upgrade.
If you find yourself in a discussion about changing your housing situation, give us a call. We would love for the opportunity to be a part of your conversation.