Hey everyone! Today is the day we've all been waiting for – an in-depth look at the Kissimmee real estate market. How is the Kissimmee market doing, you ask? Well, let's dive into my favorite segment of the real estate market: single-family homes.
In the past 30 days, 377 homes have entered the market, bringing the total to 1,744 homes for sale. We've observed some interesting trends and changes that buyers and sellers should be aware of.
Price Changes and Market Activity
Out of the 1,744 homes on the market, 787 homes decreased their asking price by an average of 3.06%. On the flip side, 76 homes increased their price by an impressive 5.62%, likely due to new construction homes. This dynamic indicates a competitive and fluctuating market, particularly in the new construction segment.
Pending and Successful Transactions
In the last 30 days, 377 homes went pending, although 69 of them came back to the market. This points to a somewhat volatile market where deals can fall through, highlighting the importance of having a strong, reliable offer.
Now, let's talk about successful transactions. In the same period, 363 homes were sold with a median sale price of $392,500. For those interested in the price per square foot, here's a detailed breakdown:
- One-story single-family homes: $215.97 per square foot
- Two-story single-family homes: $197.85 per square foot
The sold price versus list price ratio stands at 98%, meaning most sellers are getting very close to their asking price. This ratio underscores the strong demand and competitive nature of the Kissimmee market.
Seller Insights: Credits and Closing Costs
It's important for sellers to be prepared to negotiate and offer credits towards buyers' closing costs, repairs, and other expenses. In the last 30 days:
- Private owners provided an average of $28,470 in credits
- New construction homes offered $15,127 on average in credits
This trend is particularly strong in the Kissimmee and Poinsettia areas. Given the current economic conditions, with inflation and higher interest rates, buyers are often in need of financial assistance to close deals. 
Days on Market and Buyer Types
Understanding the time it takes for a home to go under contract is crucial for setting realistic expectations. Over the past 60 days, the average days to contract is 41 days. Patience is key, both for sellers waiting for the right buyer and for buyers searching for their dream home.
In terms of buyer demographics, most homes in the last 30 days were sold to conventional and FHA buyers. Sellers should ensure their homes are in tip-top condition to attract these buyers, who often look for move-in ready properties.
Inventory and Market Trends
Currently, we have about a five-month supply of inventory, a figure that has remained stable for the past three months. As we transition from the spring market to the summer market, it will be interesting to see if sales increase.
For those looking to buy a home in the $200,000 to $300,000 range, focus on the 34758 and 34759 zip codes, which offer the most inventory in this price bracket. However, if your budget is between $300,000 and $400,000, you’ll find a healthy selection of single-family homes with three to four bedrooms and two and a half bathrooms.
Best Locations in Kissimmee
For a blend of convenience and quality, consider the following zip codes:
- 34741
- 34744
- 34743
These areas offer some of the best single-family homes, whether you’re looking for properties with HOA or not. The 34747 zip code is also popular but tends to have higher traffic due to its proximity to tourist attractions.
In conclusion, the Kissimmee real estate market for single-family homes is vibrant and full of opportunities. Whether you are a buyer looking for the perfect home or a seller aiming to make the most of your property, understanding the current market trends is crucial.
I'm here to help you navigate these trends and make informed decisions. If you have any questions or need a detailed market analysis, feel free to reach out. As a local real estate agent with over a decade of experience, I'm dedicated to providing you with the latest insights and helping you achieve your real estate goals.
Thank you for your time, and until next time!
