September 2021 Central Florida Market Update

Sandy Pumpkin

September 2021
Market Update

Your Central Florida market update is here for Oviedo, Seminole county and Orange county. The data shown is calculated from last month’s sales (September, 2021.)

 

Drop a comment below if you want a specific market report for your zip code or neighborhood. 

 

✓ To my current home owners: Interest rates are going to start creeping their way back up. If you were planning on refinancing, do it now! 

 

✓ Inventory is slowly starting to rise around Central Florida meaning more houses are going on the market, and less are selling on a monthly basis. As interest rates continue to rise, we will see more inventory across the board (making it easier for buyers to buy, but harder for sellers to sell.) 

 

✓ Is it still a good time to sell? 100% yes. If you’ve been considering, I highly suggest doing so while the market is still white hot. This time next year will likely mean it might take a couple months to sell your home (instead of days like we’re currently seeing.)

 

✓ Is it a good time to buy? The best time to buy is when you’re financially ready to do so. However, buying right now means more purchasing power due to the low interest rates meaning you can afford to buy more “house” with a lower monthly payment. 

 

So what’s the market doing? Let’s dig in!

Up first: Oviedo, Florida

The median sales price in Oviedo is $393,000. This averages to about $206 a square foot. For reference, the median price per square foot in January 2021 was $183! 90 new listings came on the market while 82 were sold. Homes here in Oviedo are sitting on the market for about 5 days before going under contract (pending.)

 

What does this tell us? Oviedo is a hot pocket in Central Florida without a shadow of a doubt. As an Oviedo resident myself, I can attest to this without even being in the real estate industry. If you’re considering Oviedo, prepare to pay more to buy here (compared to other areas in Central Florida.)

 

Next up: Seminole County

The median sales price in Seminole County (which includes Oviedo) is $333,000 with an average square foot price of $193. Comparatively, the average square foot price in January 2021 was $164! 551 new listings hit the market and 742 sold. Homes are sitting on the market just a hare longer, with a median of about 7 days.

 

In terms of all of Central Florida, Seminole County is an extremely desirable place to live. Between access to outdoor state parks and springs, close proximity to the beaches, highly rated school systems, and areas with more land to purchase, it’s a top county in all of Florida. Current home prices reflect this! 

Last but not least: Orange County

The median sales price in Orange County is $342,000 with an average square foot price of $203 (compared to $175 in January!) Orange County is the 5th largest county in Florida, so you’ll notice a jump in the numbers here: 1,444 new listings hit the market in the month of September, and 2,054 homes were sold. Houses stay on the market for a median time of 7 days throughout the county.

 

Orange county is a really big place. You have areas of wealth, older homes near downtown, pockets of poverty, and really everything in between. Overall you’ll get more bang for buck in Orange County. Really it’s going to come down to what side of town you want to live on. From one end to the other, it can be about a two hour drive! I always like to ask my clients: Do you want to live near the theme parks or away from them? Near the beach or away from it?

 

If you have questions on the market, are considering buying or selling, these posts can be an extremely good resource for you to get an idea of what the market is doing. As always, I’m here to answer any and all questions you have on the housing market in Oviedo, Orlando, and all of Central Florida.

 

Cheers to moving on up, down, in or out! 🍷

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