Strong March Numbers Keep Our Local Inventory Tight

The Central Florida real estate market indicators from March 2015 are excellent! The median price of homes is up 10% from last March, and we had the most homes sales in one month in a long time, breaking the 3000 ceiling (3067).

Our close to home real estate market in Orlando has been strong and steady for a few years, and March showed the surge here as well. The biggest contributor to this was the normal first-of-the-year bump. Also, many buyers began jumping into the market to lock-in what may be the twilight of the super-low interest rates we have experienced for several years.

This has reduced our inventory to less than 4 months (3.75), which almost always means the market is moving in the direction of a stronger seller’s market, prices are going up faster than average […]

Contingent Offers Make a Comback

It was once common to make an offer on another house that was contingent on the sale of your current home in order to close. For over 5 years since the downturn in 2008, contingent offers of this kind have been unheard of. Part of this had to do with so many owners with no equity or negative equity, and part of it was because average marketing time was months and months and few sellers wanted the entanglement.

All that has been gradually changing over the last year, and many sellers are again ready to entertain offers contingent on another sale. Recently we have been involved in three sell-and-buy transactions like this that were contingent on the buyers first selling their own homes. This is a strong indicator that the overall real estate market in our area is returning to a more normal function.

Why make a contingent offer? The reasons are simple:

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