Seminole County Home Sales Market Update

This is the December Real Estate Market Recap for Seminole County, Florida including the cities of Lake Mary, Altamonte Springs, Longwood, Sanford, Fern Park, Casselberry, Winter Springs & Oviedo.  These statistics include single family homes, townhomes and condominiums.

Seminole County Real Estate Market Snapshot

*Updated Totals:  Late posted sales have increased the homes sold totals. (All data was derived from the Mid Florida Regional MLS.)

The biggest change in December had to be the dramatic decline in interest rates, when I wrote last months Seminole County Real Estate Market Report the rates were almost 7%.  December brought rates in at less than 5%, that is a huge swing.  Rates increase the affordability of homes and increase a Seminole County home buyer’s “buying power”.  If you are considering buying a home in Seminole County, please contact me to schedule your home buying consultation with the Summers Team.

Seminole County Real Estate Absorption Rate

The absorption rate determines the “state of the market”.  The a current Seminole County Absorption Rate is 82 weeks, at the current rate of home sales it would take 20.5 months for all of the homes that are currently on the market to be sold.  Why is this important?  Because, anytime there is more than a six month supply of homes, we are considered to be in a Buyer’s Market.

Seminole County Home Sellers should be very aware of the current market conditions, including what type of market we are in.  A Home Seller will have a different strategy in a Seller’s Market than in a Buyer’s Market and your Seminole County REALTOR should discuss the current market conditions that will affect your home sale. 

If you are interested in more information about selling your Seminole County home, please contact The Summers Team for your no obligation, consultation. 

Debbie Summers, Lake Mary REALTOR