The question most people will ask any real estate agent is "how is the market?" Which is understandable because why would you put your house up for sale if you have no idea about the market conditions. In this blog post I'm going to share with you a couple of pieces of data that I've accumulated to help you make a decision on whether or not you want to sell your Orlando home at this moment.
According to data from sources such as Altos research, the median home price in Orlando is $529,000. Hypothetically speaking, if you sold your home for $529,000 will it put money in your pocket? Were you expecting something higher? Or would you like to sell your house for a higher price? If so that's either was is fine, however just know that $529,000 is the median price. Your home may sell for higher or less.
Another thing to consider is how fast would you like to sell your home? Are you in a rush? Are you willing to give it some time to see if the market shifts to your favor? Or are you on the fence? Either way just in Orlando the average days on Market is 67 days and the median days on marketing is 28 days. In other words, if you put your home up for sale and price is right, for the most part it'll take 67 days and the medium timeframe would take 28 days. This is of course, if your home is in good condition and priced right according to market conditions. Do these numbers work for you?
The third thing to consider if thinking about selling your home in Orlando is the inventory. The inventory represents the amount of homes for sale. The more inventory there is the least likely you will be able to sell your home for the highest price. On the other hand, the less the inventory is the higher you can price your home. Right now there's not that much of an inventory in Orlando. There's an inventory of 729 homes. That may sound like a lot but remember there are thousands of homes in Orlando and more people are willing to buy than there are homes available. This is what we call a seller's market. Where there is more demand than supply. Which puts you as a home seller at the advantage. In my opinion if you're looking to sell your home now is the time.
There you have it. These are a few things to consider if you're thinking about selling your home in Orlando. I hope this helps.
PS if you're serious about selling your home in Orlando or period text or email me.