August-2024 Home Sales Trends in Seminole County, Florida

County-Wide Sales Metrics

Seminole County

Understanding the correlation between key real estate metrics can provide valuable insights for both buyers and sellers in the current market.

First, let's look at the Months Supply of Inventory, which currently stands at 3.09. This metric represents the number of months it would take to sell all the current listings on the market if no new listings were added. A lower number indicates a seller's market, while a higher number indicates a buyer's market.

The 12-Month Change in Months of Inventory has increased by +157.5%, showing a significant shift in market conditions over the past year. This could be attributed to various factors such as changes in demand, inventory levels, or economic conditions.

Median Days Homes are On the Market is 24, indicating that properties are selling relatively quickly in this market. This could be due to high demand, competitive pricing, or attractive features of the homes.

List to Sold Price Percentage is 97.6%, showing that homes are typically selling close to their listing price. This could indicate strong negotiation skills among both buyers and sellers in the current market.

Finally, the Median Sold Price is $459,495, providing a benchmark for the average sales price in the area. This can be useful for both buyers and sellers to understand the pricing trends in the market and make informed decisions.

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Overall, these metrics suggest a balanced real estate market with moderate inventory levels, relatively quick sales, and strong list to sold price percentages. Buyers and sellers can use this information to navigate the market effectively and make informed decisions based on current trends.

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By

Brian Rice

Brian is the owner and managing Broker at Real Estate Kingz LLC, a Florida licensed Real Estate Brokerage. You can contact Brian at 866-735-4649 (866-Re-Kingz) or visit BrianRiceRealtor.com

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