Greater Seminole County Real Estate Report 9-2-20: What does Florida’s housing market look like compared to this time last year and earlier in the year? Here’s what you need to know!
Will the Housing Market Continue to Recover?
Fortunately, Florida’s housing market continued to see good numbers through July despite the ongoing pandemic. In fact, July saw a higher number of sales and an increase in median home prices. Compared to July of 2019, July of 2020 saw an increase in new pending sales and new listings. Let’s take a look at what this means for Florida’s housing market.
What Do the Numbers Say for July 2020?
According to Florida Realtors, single-family homes increased 11.7% compared to July of 2019. New construction single-family homes increased by 21.7% compared to July 2019. Condominium and townhouse sales increased by 19% compared to July 2019.
Compared to June 2020, closed sales of single-family homes increased 11.7% in July 2020. Existing condominium and townhouse sales rose 6.5% in July 2020 compared to June of 2020.
What Does This Mean for Florida’s Housing Market?
The great news is that Florida’s real estate industry is continually improving from the spring. Based on the numbers we have seen so far, it is predicted that this upwards trend will continue until at least the end of summer.
Rock bottom interest rates on mortgage loans are playing a large part in a renewed interest in homeownership. Both of these are increasing homebuyer demand.
Partner with a Local Realtor
When it comes time to buy or sell a home, an experienced realtor will advise you through every step of the process. I am here to help you with any questions you may have about buying or selling a home. Contact me at gittasells@gitta.com or 407-330-2181. Until next week, stay safe!
