The business has been slowing down considerably last 2 months and all my sources and this article confirm there just is not much inventory left here. Be prepared for other hot markets in the country to eventually burn out as well. I am sure it's temporary for now, but it's a little unnerving. People want to sell, but where do they go? There is nothing out there or affordable that worth it. New construction has some delays for materials, so new homes finsih dates also pushed back. 3 weeks of inventory left vs 6 months HUGE difference!
Central Florida Real Estate Market Recap - April 2021
April inventory fell 7.8% from the previous month, March 2021.
If all the available homes were sold, it would take just three weeks (a balanced market is considered six months of inventory).
The median home price increased to $295,000 in April 2021, a 3.5% bump from March 2021. The median home price jumped 11.9% from $263,750 in April 2020.
“A positive sign is that new listings are on the rise as more homeowners look to take advantage of the extreme seller’s market that we are in. As we head into the summer, more sellers will likely consider selling their homes before the start of the new school year, which would help balance our housing market out,” said Natalie Arrowsmith, 2021 Orlando Regional REALTOR® Association President, NextHome Arrowsmith Realty.
“Homes are selling faster than ever, so potential buyers must come prepared and pre-approved with a strong offer.” http://www.floridarealtymarketplace.com/blog/central-florida-real-estate-market-recap-april-20211.html?sortorder=desc-timestamp_created&p=5
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