Greater Seminole County Real Estate Report 6-10-20: Greater Seminole County’s housing market outlook for May 2020 compared to May 2019 and what buyers and sellers can expect in the months to come.
May 2020 Recap: How is the Housing Market Reacting?
As we head into the second week of June, many businesses are still closed or only open. On that same note, many residents are still unemployed as a result of the COVID-19 pandemic. It is important to keep this in mind as we take a look at a recap of the May 2020 housing market for greater Seminole County.
May 2020 Versus May 2019 Housing Market Numbers
Let’s first take a look at the numbers for the Seminole County Housing market as a whole and then we will break down the numbers according to area.
Seminole County Housing Market
- Homes sold: 772 homes were sold in May 2019 compared to 529 homes sold in May 2020. This is a decline of 31%
- Average price of a home: increased 4% from $302,000 in May 2019 to $314,000 in May 2020
- Average square foot price: increased 4% compared to May 2019
Lake Mary
- Homes sold: 96 homes were sold in May 2019 compared to 45 homes sold in May 2020. This is a decrease of 53%
- Average price of a home: saw a decrease of 28% from $380,803 in May 2019 to $369,970 in May 2020
Longwood
- Homes sold: 97 homes were sold in May 2019 compared to 71 homes sold in May 2020, which translates into a 32% decrease
- Average price of a home: increased 5% from $350,757 in May 2019 to $372,000 in May 2020
- Average square foot price: increased 4% to $154 in May 2020
Sanford
- Homes sold: 172 homes were sold in May 2019 compared to 84 homes sold in May 2020, which is a decrease of 51%
- Average square foot price: increased 20% to $140.46 in May 2020
Casselberry
- Homes sold: 191 sold in May 2019 compared to 84 homes sold in May 2020, which is a decline of 50%
Oviedo
- Homes sold: 113 homes sold in May 2019 compared to 85 homes sold in May 2020, which is a decline of 25%
- Average square foot price: increased to $162.00 in May 2020 to $155.00 in 2019
Winter Springs
- Homes sold: 113 homes sold in May 2019 compared to 56 homes sold in May 2020; a 50% decline
- Average square foot price: increased from $150 in May 2019 to $164 in May 2020
Winter Park
- Homes sold: 154 homes sold in May 2019 compared to 96 homes sold in May 2020
- Average price per square foot: decreased from $215 in May 2019 to $207 in May 2020
Maitland
- Homes sold: 45 homes sold in May 2019 compared to 25 homes sold in May 2020
Altamonte Springs
- Homes sold: 106 homes sold in May 2019 compared to 68 homes sold in May 2020, a decrease of 40%
- Average square foot price: increased from $133 in May 2019 to $140 in May 2020
Apopka
- Homes sold: 171 homes sold in May 2019 compared to 121 homes sold in May 2020, a decrease of 30%
- Average square foot price: increased from $133 in May 2019 to $138 in May 2020
Geneva and Lake Geneva
- Homes Sold: 6 homes sold in May 2019 compared to 3 homes sold in May 2020, a decrease of 50%
- Average price per square foot: increased 27% to $140 in May 2020
Debary
- Homes sold: 70 homes sold in May 2019 compared to 44 homes sold in May 2020, a decrease of 34%
- Average square foot price: increased 12% to $142 in May 2020
The Housing Market As We Move Forward
As we look to the summer months, we are optimistic. It is a seller’s market, with many sellers seeing multiple offer situations. For buyers, the timing couldn’t be better, because borrowing money has never been cheaper. My team and I are here to help with all of your home buying and selling needs. Contact us at gittasells@gitta.com or 407-330-2181. This is Gitta! Until next week stay safe!
For more information on Seminole County’s Housing Market feel free to watch our Facebook Live Session from June 4, 2020. Tune in every Thursday at 5:30 PM as we bring you the most up-to-date real estate information.
