Celebration Real Estate Market Report for May 2016

According to the National Association of Realtors, mortgage rates are now lower than they ended in March. That means that rates are not only near the lows for the year to date, they are also close to the lowest rates in three years. These lower rates translate into increased buying power and/or improved ability to qualify for a mortgage.

A record number of Americans are actively searching and looking at the current inventory on Realtor.com®. We currently have 2% fewer homes for sale in the U.S. relative to last year, but we’ve seen 137,000 new listings come onto the market so far in April.

Looking ahead, great weather will likely draw even more people to look at open houses and available homes over the rest of the month. According to Cleveland Research, after a cooler than normal start to April, the weather forecast for the next 10 days is expected to be “near perfect” across many of the largest housing markets in the country, especially in the central and eastern U.S.

But who cares about a national or regional weather or housing forecast? What matters most are the trends and conditions in your neighborhood.

Orlando Real Estate Sales Statistics

Orange County Real Estate Sales Statistics – March 2016

Orange County saw 60 less homes sold in March 2016 than in March 2015, a 3.18% drop. The average sales price increased by 4.58% and the median sales price increased by 6.98% from March 2015.  Market times dropped by 8 days.

Osceola County Real Estate Sales Statistics – March 2016

Osceola County home sales decreased by 5.37%. Prices increased with the average sales price up 1.71% and the median price increased by 5.96%.  Market times decreased by 6 days compared to March 2015.

Seminole County Real Estate Sales Statistics – March 2016

Seminole County residential sales decreased .28% with 2 less homes sold in March 2016 compared to March 2015. The average sales price increased by 13.16% and the median price increased by 16.67%. Market times dropped by 1 day.

Lake County Real Estate Sales Statistics – March 2016

Residential sales in Lake County decreased 7.22%, and the median sales price increased by 5.10% for March 2016 compared to March 2015.  Market times decreased by 14 days.

Polk County Real Estate Sales Statistics – March 2016

Polk County saw 91 more homes sold in March 2016 compared to March 2015, 10.47% increase.  The average sales price increased 9.51%, and the median sales price increased by 12.31%.  Market times decreased by 10 days.

Search all Orlando area homes for sale here!

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Just like our clocks this weekend in the majority of the country, the housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market. Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right. Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country impacted by arctic temperatures and conditions.

That hasn’t happened this year.

Demand for housing has remained strong as mortgage rates have remained near historic lows. The National Association of Realtors (NAR) recently reported that the top 10 dates sellers listed their homes in 2015 all fell in April, May or June. Those who act quickly and list now could benefit greatly from additional exposure to buyers prior to a flood of more competition coming to market in the next few months.

Bottom Line

If you are planning on selling your home in 2016, meet with a local real estate professional to evaluate the opportunities in your market.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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