Real Estate Market Update! Times Keep on Changing.

Market Update, written by Dawn Deegan

Nov 9, 2020

Nationwide, the median DownPayment for a home has surged, 29% in 1stQ and 15+% 2ndQ.

            Sellers are wanting to secure a successful Offer, with more skin in the teeth, in the event of a fallout, legitimate or otherwise.

Home Prices continue to go up, with a 5.2% YoY increase in August, 2020.

The sad news, "Home values are increasing approximately twice as fast as typical incomes." Zillow

This news, of course, will always be good for some (Seller's) and not so great for others (Buyers). Yes, we remain strongly in a Seller's Market.

On the rental side, here in FL rental prices continue to skyrocket, in part, due to the arrival of renters coming in from NY and NJ (from where we have the highest domestic influx).  In Manhattan, median residential rental price is down 11% with almost 45% rental decreases in 3rdQ. 16,000 units are vacant.  So....great time for Investors here in FL.

The Vacation home market continues to be glutted. We have lost our International Buyers and Visitors since March of this year. Many are scared and have put their homes on the market. So, it is an obvious opportunity for those looking to purchase a vacation home.

Who do you know that's looking to Buy or Sell? I can handle a transaction anywhere in FL, as I have a network of first class teams ready to assist.

Stats gleaned from Inman News, WSJ, FL REALTORS®, Zillow

Dawn Deegan

Brilliant Move Realty

Broker/Owner REALTOR®

dawndeegan@gmail.com

407-488-8074

Written by Dawn Deegan, Broker/Owner of Brilliant Move Realty. Dawn holds the designations of ABR (Accredited Buyer Representative), CRS (Certified Residential Specialist), GRI (Graduate Realtor® Institute), Short Sale Foreclosure Resource (SFR), and is a Certified Negotiation Expert (CNE). She is Quality Service Certified (QSC), holds the Transnational Referral Certification (TRC), and is Gold Key Certified. Dawn is devoted to providing only the best possible services and expertise to her Buyers and Sellers of residential Real Estate in the Greater Orlando area. This area includes Windermere, Orlando, Winter Park, Baldwin Park, Kissimmee and Davenport. Dawn’s emphasis is on achieving the best possible sale through thorough market knowledge, communications, negotiations and transactional expertise, resulting in a quality experience for the Buyer or Seller of Real Estate. Contact Dawn Deegan at 407 488 8074 or at DawnDeegan@gmail.com Visit her at www.BrilliantMoveRealty.com