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Ch-ch-ch-ch-changes!

Ch-Ch-Ch-Ch-Changes! It feels like things are changing every week in real estate. Like David Bowie told us years ago, real estate is going to have to “turn and face the strange changes.” Interest rates are changing, and buyers and sellers are feeling it…almost.

The last day that mortgage interest rates were in the 3’s was March 8th. The last day that interest rates were in the 4’s was April 7th. Since then, interest rates have remained in the 5’s. Higher interest rates means higher payments. Buyers who qualified for a $500,000 house in March now qualify for a $420,000 house.

How are rates affecting our sellers? On April 23rd, we had a 3 bed/2 bath home with a pool on the market and it received 4 offers. One-two months ago, it would have received 10-12 offers. On April 30th, we had a 3 bed/2 bath home without a pool on the market that received 2 offers. One-two months ago, we would have expected 6-12 offers on that home.

Strangely, we are in a moment where sellers are still getting very high numbers for their homes, but the number of offers they receive is down compared to just a month ago.

In one week, interest rates, inventory, and demand can fluctuate 7 times. At that rate of change, you need an agent who is active in the market every single day. Not 5 or 6 days a week. Every day. We’re happy to be those agents for you. We love the work, we love being your REALTORS®, and we appreciate that you let us stay in touch with you.

If we’ve been in conversation with you about buying or selling a home in the last 1-3 months, we need to talk again. Chances are, there’ve been some changes that will affect your goal.

Happy May!

Since April 21st, we’ve listed 9 homes for sale – and 6 of them are already under contract! Make sure you’re following us on Facebook or Instagram to be the first to see our newest listings, open houses, and more.

April 2022 Clermont market update

Last month, the number of homes listed for sale was slightly down over last year. As of May 3rd, there are 64 single-family homes for sale in 34711 and 130 homes under contract. The low amount of homes for sale, combined with homes continuing to sell in under a week, is maintaining Clermont’s higher median values (up 34.7% from last April).

April 2022 vs 2021: Year-over-year comparison of new listings, days to contract, and median sold price.

13206 Casper Ln Clermont, FL

$699,000 | 3 beds/2.5 baths with private pool

Gorgeous, completely renovated home in Anderson Hills on a half-acre lot within a cul-de-sac. Custom-built deck with outdoor kitchen surrounding a huge above-ground pool.

316 Summer Place Loop Clermont, FL

$429,000 | 4 beds/3 baths with private pool

Live the Florida lifestyle year-round or own the perfect vacation rental in the highly sought-after gated resort-style community of High Grove.

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