The latest market data for the Orlando area shows we are still at an unbelievably low inventory – not seen since 2005. There are a total of 10,678 homes for sale as of today. Less inventory means less choices for buyers. What does that mean for you if you need to sell your home? You may have a little more negotiating power with buyers. If your home is less than $250,000, you may have even more negotiating power! With almost 87% of the homes sales under $250,000 that means more buyers are searching in your price range and you may even see multiple offers.
If you are still having trouble selling your home and it meets the above criteria – you are most likely overpriced. With the dawn of Internet sites full of information about home values (regardless of if they are completely accurate); buyers are much more knowledgeable than they have been in the past about home values and are not willing to overpay. In fact they want to feel like they have gotten a deal! They think it’s a “buyer’s market” because that’s what the news media tells them. However, in Orlando, at a price under $250,000 it feels much more like a seller’s market for now. Knowing the market and your competition will allow you to negotiate a better price. That’s why it’s so important to have an agent who understands the market and helps you reach the sweet spot. The sweet spot is the right price for your home. The price that gets you an offer!