Seminole County at a Glance gives us a glimpse into the last decade from 2007-2017 in the real estate market directly from the Seminole County State Appraiser.
Total Market Value:
- 2007: $49 Billion
- 2017: $43.3 Billion
Single Family Home Supply and Pricing:
Number of homes for sale is at a 3.5 month supply for homes under $350,000. A 6-month supply is considered a healthy market. Inventory is increasing, especially in the $400,000 range.
Single Family Homes Median Sales Price (Existing Homes):
- 2007: $282,950
- 2017: $259,000
Single Family Homes Median Sales Price (New Homes):
- 2007: $355,300
- 2017: $467,300
Townhouse Median Sales Price (Existing):
- 2007: $214,000
- 2017: $182,000
Townhouse Median Sales Price (New):
- 2007: $223,350
- 2017: $286,000
- In the past 5 years, Seminole County has supported 47 economic developments resulting in nearly 5,000 jobs.
- Leading private employers in Seminole County: Paychex, Chase, Verizon, Convergys, Deloitte
Seminole County “Hot Spots”
- Lake Mary
Vote November 2018: 2 Constitutional Amendments
- 10% Cap on Non-Homestead Property
- Cap set to expire January 1, 2019
- Amendment would extend the cap indefinitely
- Additional Homestead
- Would increase homestead exemption from $50,000 to $75,000
New year, new goals.
One of those may be renovating your home. If you’ve started thinking about where to budget those home renovations, consider these 5 home improvements that can give you the best return on your investment. Continue reading “5 Top Home Improvements for the Best Return”
Looking to Rent or Buy in Oviedo?
If you live in the Oviedo area and are thinking of buying a home, you may have some doubts as to whether buying is a good move. It is not unusual to become comfortable with renting a home especially because you don’t have to worry about saving up a down payment or being committed to a home. On the other side purchasing a home can be a big milestone for some and provide a sense of stability.
**Orlando home sales (all home types and all sales types combined) in November 2017 were up 8.4 percent when compared to November of 2016 and down 6.4 percent compared to October 2017.
*Orlando’s market currently favors sellers, particularly within the lower (under $300,000) price categories, which are in very high demand. Indicators of a seller’s market include: declining inventory, rising sales, rising prices, and a very low months-of-supply statistic.
*The median price of all existing homes combined sold in November 2017 — $224,000 — is an 11.4 percent increase from the $201,000 median price recorded in November 2016, and a 2.3 percent increase from the October 2017 median price of $219,000.
Buyers need the assistance of REALTORS® to help them compete against other buyers, for example, by crafting attractive offers that take into consideration current appraisal issues and advising on contingencies, in addition to assistance through the many traditional functions that a buyers’ agent performs.
Inventory is still low and prices are up – it’s a great time to sell! In addition, Orlando home values are nearing normalized, which is helping to eliminate “underwater” mortgage conditions for many sellers. However, sellers should be aware that while selling their home is likely to be quick (particularly in the lower price categories) securing a new residence could be a challenge and requires the assistance of a REALTOR®. Those seeking to move up into larger, more expensive homes will have more choices and less competition than those seeking to downsize.
*There are currently 8,294 homes available for purchase through the MLS. The November 2017 overall inventory level is 10.53 percent lower than it was in November 2016. Note: When adjusted for the elimination of “Active With Contract” status homes from of the active listings category within the local multiple listing service, the November 2017 inventory is 8.9 percent lower than in November 2016.
*Overall inventory is down 2.0 percent compared to last month.
*The inventory of normal properties decreased 7.5 percent compared to November 2016, while foreclosure inventory is down 39.4 percent and short sale inventory is down 61.0 percent.
Source of article: Orlando Realtors
It’s the time of year again and if you’re like us, there’s nothing like Christmas lights to get us even more excited about this time of year! Thanks to our great Oviedo group on Facebook, neighbors have compiled a great list of homes in the Oviedo and surrounding areas to check out this year.
Here are some of our favorites:
Oviedo, Winter Springs and Chuluota
- Bivona Christmas Light Show 1601 North Wind Ct. Winter Springs – 6-11pm until New Year’s
- 1209 Wolverine Trail, Winter Springs
- 1212 Andes Dr, Winter Springs, beginning 11/28 hours are 7-10 PM
- 2251 Pennsylvania Ave, Oviedo
- 726 & 749 S Lake Claire Cir, Oviedo
- 1039 Gore Drive, Oviedo – features a Santa letter box so leave your address and Santa will write back
- 1009 Cutoff Branch Ct., Oviedo
- 94 E. Magnolia Street, Oviedo
- 2754 Running Springs Loop, Oviedo (Isles of Little Creek)
10. Kilowatt Christmas Lights – 536 Wax Palm Lane, Chuluota
Prepping Your Home
When you are preparing to sell your house, you may have a single-minded focus on what you’re looking for in your next home. However, it may be crucial to pay attention to your current abode. A home improvement project or two may be just the thing to make certain that your current house sells quickly and at the right price.