The Central Florida Market ... Stats and News 3-17-24

For the week of March 3-9, 2024 there were 401 homes that sold with a median price of $420,000. There were 147 Condos, Townhomes and Villas that sold with a median price of $263K. Here are the highlights of the homes sold.
 

Price Range	Total	>250	250-300	300-400	400-500	500-1000	1000+
Sold	401	37	33	107	88	115	21
List to sell	97.36	95.95	97.29	97.78	98.11	97.73	95.7
Months Inventory	3.23	2.03	2.05	2.35	3.07	4.23	6.97

Homes sold this week

70% of renters say that owning a home would make them happier! But they feel like they are not able to purchase. Unfortunately, you will get diffferent answers from different people whether you can do it. We like to make sure you have all of the facts. Don't let this happen to you!. On the other hand 90% of the people who bought a home said they were happier because they bought. 

The Preliminary cause of the Surfside Condo Collapse has been revealed! In 2021 half of the condo bulding collapsed and 98 people were killed. This week they revelaed that they believe that the pool deck was likely the cause of the collapse. They will not have the final report out until 2025. They have determined this by videos, eye witness accounts, studies and more. As a result of this tragedy there are a lot more inspections required of any condo that is 4 stories or higher. And the buildings are safer because any underlying problems are identified and repaired. 

Rental Affordability. There is a new study about rentals in the state and we don't come up that great in regards to affordability. 99 is the best and Orlando comes in at 36 with the average rent at $1900 and average income at $55K. I do feel like rents have stabalized and may be heading down a little, but very little. It is tough for many people at this time, so you find a lot more roommates and multi generations living together. 

Sellers get top dollar. Good staging, good value added improvements get you top dollar. But most of all you need to know the market! Price is very sensitive today. You need to price it to get people to see it!

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