Hello, Kissimmee homeowners! This is Jury Hernandez, your trusted Kissimmee real estate agent. As we bid farewell to 2023, I'm excited to bring you the last market update of the year. Today, let's dive into the latest trends, crucial insights, and valuable information that every home seller in Kissimmee should know.
Understanding Your Competition in the Kissimmee Housing Market
First things first – knowing your competition is key. When listing your property, realistic expectations are vital. The number of days your property stays on the market is a crucial factor that can signal when it's time to make a strategic move.
Under Contract Properties
Let's discuss the properties that are inching closer to a successful sale. How long should you expect before receiving an offer? And, importantly, how many homes are coming back to the market, and why? Understanding these dynamics can help you navigate the selling process more smoothly.
Successful Sales and Average Days on Market
Now, the exciting part – successful sales! In the last 30 days, 306 single-family homes found new owners. But what's the magic number for getting an offer? On average, it took 35 days for these homeowners to seal the deal.
House Prices and Real Estate Market Overview
Understanding the pricing landscape is crucial. The median sales price of a single-family home in Kissimmee stands at $398,388, with home sellers fetching 98% of the list price. Additionally, the typical single-family home is a spacious four-bedroom, two-bathroom abode, spanning 1,881 square feet.
The Kissimmee, Fl Housing Market Stability
As we analyze the market stability, Kissimmee currently finds itself in a stable position. With 1545 single-family homes available for sale, we have a 5.06-month inventory, signifying a balanced market.
Market Trends and Seller Credits
A notable trend we've observed is the rising practice of sellers giving credits. Out of the 306 homes sold, 89 sellers provided an average credit of $7,105 to buyers. This trend, particularly if you're planning to sell, is worth keeping in mind.
Unsuccessful Sales: Lessons Learned
Finally, let's learn from the not-so-successful sales. We had 87 sellers cancel their contracts and 55 listings expire. The common denominator? Unrealistic expectations and lack of proper consultation. Before entering the market, ensure you have realistic expectations and seek professional guidance.
The Kissimmee Real Estate Market Update Conclusion:
Thank you for joining me on this insightful journey through Kissimmee's real estate landscape. I hope this information empowers you in making informed decisions about your property. As we step into 2024, may your real estate endeavors be prosperous and fulfilling.
If you found this update valuable, don't forget to subscribe. I'm Jury Hernandez, your Kissimmee real estate agent, here to guide, inform, and inspire you. Wishing you a phenomenal 2024 – let's make it a year of successful real estate ventures! Thank you for your continued support.
P.S. If you are interested in your home value reach out, I can put together a personalized market report for you that includes: Comparable homes for sale, price per square foot, home price strategy and my Kissimmee housing market forecast for next year.
