5/15/2023
by Stacy Kitchell, Managing Broker of Kitchell Group
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April MLS Statistics are in! See below, along with our personal insights into the market.
For more insight into your specific neighborhood or to discuss the potential sale of your home, Send an Email, call us, or simply click the Chat box on our website.
Warmest regards,
Stacy Kitchell
Stellar MLS April 2023 Residential Stats – This report represents all residential listings in the Stellar MLS coverage area (see coverage area above).
SUMMARY:
- Overall Demand – Florida is still a highly desired location. Census Bureau estimated that 320,000 Americans moved to Florida from 2021 to 2022, making it the #1 destination in the U.S.
- Average Days on Market / Months of Inventory – Homes are moving a little faster and inventory is getting absorbed due to less new listings and continued buyer demand.
- Average Sales Price/Active Listings – Prices are increasing slightly from one month and one year ago. It appears that sellers are just waiting longer to get their price. For the best listings, buyers are not seeing bargains and in some cases, we are still seeing multiple offers (we have seen at least four with our buyer and seller deals in the past 2 months – in price ranges from $400K-1M).
- New Listings decreased – Homeowners are hesitating to list due to selling at rates in the 3-4% range and buying at 6-6.5% (unless they are buying in cash). Those who really want/need to move are pulling the trigger with plans to refinance and lenders are offering new loan options to help lower monthly payments.
- Listing Sold – Less homes sold, possibly due to snowbird season ending and buyers waiting for news of the Fed’s most recent interest rate announcement. Activity should pick up with the school year ending.
Use our expertise to help you move forward — even if it’s just one step for now. It’s what we do best. 🙂 Contact Us