Wendy Morris Presents:
The Florida Dream
Wendy Morris Realty
Dr Phillips Luxury Real Estate
407 575 5392
Call Today!

Listing Search

STATE OF THE HOUSING MARKET | 32819 | 32836 | Dr. Phillips

NEXT
PREV

STATE OF THE HOUSING MARKET

Unfortunately as of the beginning of the pandemic the state of the housing market has affected in the whole nation. The pandemic has diminished, interest rates seriously spiked thee times within four months in 2022 and Florida recently got devastated by Hurricane Ian. Especially in Florida, where this will extremely slow the housing market down and leave a mark on sales and new listings where hurricane Ivan September 2022 dumped massive amounts of water and damages to homes, businesses and vehicles. Hurricane Charley, Matthew and Irma sales and new listings seriously declined from one year to the next.

This housing market, especially in Dr Phillips is still competitive and home values has shifted into a deceleration mode and slowly decreasing with interest rates spiking since June 2022.

Home insurance companies are going to have to shell out millions of dollars to compensate. This has to be monitored very carefully that all homeowners receive proper compensation as we now have a major setback. The government already has its hands full with many issues in our country and always need to revisit and stay on top of this subject supporting all homeowners affected.

The word lately used loosely is inflation, many wonder if we are actually in a recession which is defined as a period of temporary economic decline during which trade and industrial activity are reduced and generally identified by a fall in the GDP in two successive quarters.

Click link to learn more /ARE-WE-IN-A-RECESSION---32819---32836---Central-Florida-6-22139.html The deceleration of home values are now in effect, click link to learn more /HOME-PRICE-APPRECIATION-AND-DEPRECIATION---32819---32836---Dr-Phillips-6-23079.html

HOUSING INVENTORY

In Central Florida the homes for sale is historically still low as reflected in the charts.  Also reported in Central Florida as of August 2022 reported average days on the market is 27 and average interest rate is 5.29%. As of August 2022 2.03 months of supply is available and prior year reports .91 which shows an improvement in inventory. 

August 2022 the average median price reports 377,750 and previous year shows 320,000 which shows an increase. As for closed sales in August 2022 reported 3999 and dropped a year later to 3324.

Pending properties August 2022 reported 5260 and dropped the following year to 4171. These numbers reflect from the interest rate spike in June and July 2022.

There is still a lot of work to do  to bring us back into the pre-pandemic prices. Home sales have stagnated since spike in interest rates June 2022. It does not look like it will get any better anytime soon.

SOLUTION

Many American citizens are wondering what is the solution? Only time will tell and good possibility the short sale and foreclosure may come back into play. If the interest rates continue to climb the home prices must be lowered to recorrect the housing market. This may take at least three years to start correcting this housing market in America. There is certainly more to come and let's stay connected.

If you are considering selling your home there are important secrets that I can assist you with as a 18 year selling veteran. If you are interested in my free e-book my selling secrets click link https://kevinstrawter.book.live/biz-card-book  As a trusted advisor and professional realtor stay connected and contact me today at 850 496-6412. Serving Dr Phillips, Disney area and all Central Florida. Clink link to learn more about Kevin Strawter /ABOUT-KEVIN-STRAWTER-P-A---MRP--GRI--ABR-6-14330.html

 

 


  • STATE OF THE HOUSING MARKET | 32819 | 32836 | Dr. Phillips
  • STATE OF THE HOUSING MARKET | 32819 | 32836 | Dr. Phillips

All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independent verified. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. The source of the listing data is as follows: Stellar MLS (updated 3/28/24 9:45 PM) |
Featured Listings
Orlando Real Estate
$1,500,000
4 BED
3.5 BATH
Under contract-accepting backup offers. Welcome to beautiful Dr. Phillips and The Reserve at Cypress Point! A small gate... Read More
Orlando Real Estate
$1,275,000
3 BED
3 BATH
One or more photo(s) has been virtually staged. Beautiful, One-Of-A-Kind penthouse condominum nestled in the renowned c... Read More
Orlando Real Estate
$735,000
4 BED
2 BATH
Welcome to Sand Lake Point in Dr. Phillips. This updated pool home has been completely renovated in 2024 with complete k... Read More
Orlando Real Estate
$1,089,000
5 BED
4 BATH
Luxurious and Move-In Ready, this Spacious 5-bedroom/4-bathroom New Construction home in the heart of Dr. Phillips offe... Read More
Orlando Real Estate
$255,000
1 BED
2 BATH
Investor Opportunity!!! LOCATION LOCATION Excellent investment opportunity two story condo completely renovated, locate... Read More
Orlando Real Estate
$299,000
2 BED
2 BATH
Don't miss this cozy and luxurious home, two beds with two full bathrooms in Sand Lake Village. 5mins to SeaWorld, 10m... Read More
Orlando Real Estate
$799,000
5 BED
3 BATH
Introducing an Amazing POOL Home with 5-Bedrooms, 3-Bathrooms in the highly sought-after area of Dr. Phillips! Enjoy sw... Read More
Orlando Real Estate
$599,900
4 BED
2 BATH
Welcome to your dream home! Nestled in the heart of a tranquil neighborhood, this charming residence offers the perfect... Read More
Orlando Real Estate
$227,000
1 BED
1.5 BATH
Investors, take note! Prime Central Florida LOCATION with short-term rental approval in Orlando. Exceptional 1/1.5 cond... Read More
Orlando Real Estate
$649,900
3 BED
2.5 BATH
*LOCATION LOCATION* You don't have to look any further because your new Luxury Condo awaits! Walking through the living ... Read More
Contact Kevin Strawter

407 575 5392

Wendy Morris LLC
DBA Wendy Morris Realty
Licensed in the State of Florida
BK 3146762
16797 Broadwater Avenue
Winter Garden, Florida 34787

Your privacy is our utmost concern. We will never sell your personal information. Privacy Policy
©2011 -2024 drphillips.info - all rights reserved. | Site Map | STATE OF THE HOUSING MARKET | 32819 | 32836 | Dr. Phillips