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August 2020 Market Update

Tuesday, September 8, 2020   /   by Katie Sievert

August 2020 Market Update

The number of new listings on the market is relatively steady compared to this time last year.  Interest rates continue to be low, but are starting to creep up ever so slightly.  The combination of these make it a great time to buy and a great time to sell, as it costs less to buy and there is limited inventory on the market.  If you aren't interested in buying or selling, now would be the time to consider refinancing.



 

Here are some quick statistics for Osceola, Polk, and Orange counties. 



 

This is comparing August 2019 to August 2020. The number of houses sold did increase 5% from the prior year.  The average price of a house increased by 6%.  The average days on the market for sold listings is the same it was this time last year.



The number of new listings increased in 2020 compared to 2019, but is down from the past few months. As we mentioned, this is still a seller's market with around one month of inventory available.  But it is still a great time to buy a house, as interest rates are still very low.    













 

The average sales price for the central Florida area are as follows:





Poinciana - $224,210



Kissimmee - $269,080



Saint Cloud - $290,452



Davenport - $250,825



Orlando - $305,465



Have you had any thoughts of selling?  Do you want to know the value of your house? 

Wise-Prantner Group at Compass Florida
7380 W Sandlake Rd. Suite 500
Orlando, FL 32819
321-247-0856

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