Clermont, FL’s average home value increased 24.7% last year. What does that mean for you?
The Clermont real estate market isn’t the same as it was two years ago. Homes are selling within days instead of months, and many homes for sale receive multiple offers. Higher prices, low inventory, and bidding wars are all good news for homeowners.
For homeowners looking to sell, it means they can sell quickly to cash in their equity – allowing them to pay off debts, upsize or downsize, and perform a financial reset for their families. Also, those that bought during our last housing peak are no longer underwater on their mortgage.
For those wanting to buy, historically low interest rates are keeping buying power strong.
Let’s look at an example: a $300,000 mortgage with a 4.5% interest rate has a monthly payment of $1,520, and a $375,000 mortgage with a 3% interest rate has a monthly payment of $1,581. This $75,000 mortgage difference is offset by lower interest rates, keeping homeownership within reach for many.
Looking at 2022, we expect our current market to be the new normal.
People move for all kinds of reasons. Whatever your reason is, it’s always best to start early – and there’s no better time than right now.
If you’re wanting to buy or sell, we would love to be your Realtor®. Call/text us at 407-267-2319 or contact us using the form below. We look forward to meeting you!