Florida, especially Central Florida, is going through a hot housing market. Therefore it makes it hard to find houses for sale in Orlando, Tampa, and Jacksonville, to name a few places. The lack of inventory puts the houses for sale in Orlando at a higher than historical average price. The listing price is often just a benchmark of where to start the pricing. Whereas the median home price is selling at an average price of $365,000 in Orlando, Florida.
Is it still a seller’s market?
Yes, it is, and those that want to sell their house fast in Orlando or other parts of Florida are in luck. If they’re going to take the opportunity to cash in on the profit they have accumulated on their homes; then it’s a good idea to sell the house for fast cash in Florida and look for all-cash buyers.
Traditionally, all-cash buyers at times may come in at a slightly lower offering than the highest offering that comes from buyers who have a mortgage. Still, they help eliminate fees and the time it takes to close and get you liquid much faster. Now, with how hot the market is, and with many looking to sell houses in Orlando, Florida, it’s not doing much to cool down the overall offers that are being given for homes in the area.
This development has made the number of new listings increase at the beginning of 2022. This shows that the trend of these prices may start to see its peak. In turn, as the year goes by, the number of houses for sale in Orlando will increase. This includes as well other parts of Central Florida, whether it’s Fort Lauderdale or West Palm Beach.
Remember – retail buyers can say no to houses for sale in Orlando
If you’re looking to maximize your potential sale price and go with a retail buyer whose offer is high due to the lower interest rates, be prepared for the possibility of it falling through. Remember, there are several stages to selling a home. The key factor is a retail buyer can say no at any point of those stages.
There are even some cases where the retail buyer, after signing the mortgage, has some time to still say no, and cancel the deal. This ultimately leaves you back at square one. In addition, since the average time to sell a home with a mortgage and escrow combined is a lot longer than simply taking an all-cash offer and closing within the week, the home prices might not be as high as they were during the beginning of your selling journey.
During that period, more houses for sale in Orlando can add to the inventory. This in turn brings the price down even further and missing the opportunity to sell your house fast in Orlando, Florida, or anywhere in Florida for that matter.
That’s why it’s essential to take advantage of the opportunity now. Making a move before the houses for sale in Orlando inventory levels go up. If you wait there’ll be more seller competition out there than buyer competition, reducing the effectiveness of your negotiating power.