Why Now is the Best Time to Sell Your Central Florida Home

By Loretta Maimone   Follow me: Loretta Maimone on Facebook
Fri, Apr 12, 2024 at 12:45PM

Why Now is the Best Time to Sell Your Central Florida Home

If you've been on the fence about selling your Central Florida home, now is the ideal time to make a move. The region's real estate market is red hot, with high buyer demand, limited housing inventory, and rising home prices creating perfect conditions for sellers. At The Loretta Maimone Team, we've assisted hundreds of Central Florida homeowners in getting top dollar for their properties. Here are the key reasons why this spring presents an unmissable opportunity to list your home.


Reason #1: Buyer Demand is Through the Roof

Thanks to Florida's endless sunshine, world-class amenities, business-friendly climate, and lack of a state income tax, Central Florida has become one of the hottest relocation destinations in the country. We've seen a surge of buyers from across the U.S. looking to take advantage of Florida's unbeatable quality of life, especially coming from high-tax states in the northeast and west coast.


On top of that, mortgage rates remain near historic lows, giving buyers heightened purchasing power. Throw in the fact that more and more companies are allowing remote work — making location less of a factor — and it's easy to see why so many want to call Florida home. Simply put, buyers are flocking here in droves.


With this immense demand, sellers have a clear upper hand in the market. We frequently see situations where 10-20 buyers are vying for the same listing, creating an ultra-competitive environment that drives prices skyward. Well-priced homes in desirable neighborhoods are routinely receiving multiple over-asking offers. There's no denying it's a seller's market.


Reason #2: Housing Inventory Remains Scarce

While buyer activity has surged in Central Florida, the number of homes on the market has struggled to keep up with demand. Across the region, months' supply of inventory — a key housing metric measuring how long it would take to sell all existing homes at the current pace — sits near historic lows around 2 months. A balanced market is considered to be 5-7 months of supply.


So what's behind this dearth of inventory? A few key factors:


- Many homeowners have locked in ultra-low mortgage rates over the past couple of years and are reluctant to give those up

- New construction has been hampered by supply chain disruptions, labor shortages, and rising material costs

- Family homes have stayed off the market longer amid remote schooling and work-from-home

- Out-of-state buyers are soaking up a large portion of inventory


With such limited supply, well-priced and well-marketed homes are getting snatched up at record speed. It's common for listings to go pending or see multiple offers within days of hitting the market. The shortage of inventory has put sellers in the driver's seat — a perfect opportunity to cash in on maximum home equity.


Reason #3: Home Prices Continue Climbing

In Central Florida's sizzling seller's market, home prices have understandably skyrocketed. According to recent data, median home prices across the region have increased around 20% over the past year alone. Many local markets are seeing even steeper price growth upwards of 30%.


These rapidly rising home values are a key reason why so many homeowners are deciding to sell right now. With equity gains far outpacing what they'd be earning in other investment vehicles, listing your home allows you to capitalize on this rapid price appreciation. In essence, your home has become an incredibly valuable asset to cash out on.


While no one can predict exactly how long this period of accelerated price growth will last, real estate historically moves in cycles. Odds are we're nearing the peak of this current cycle, creating a prime window to sell your home for top dollar while demand is white hot and inventory is depleted.


After you sell, you'll have a sizeable nest egg to use as you wish — whether it's putting a down payment on a new forever home, investing in a rental property, or funding your retirement. Regardless of your goals, the equity you've built up in your home could be the key to making it happen.


Reason #4: A Fantastic Time for Upsize/Downsize Moves

If selling is part of a plan to find your next dream home, current conditions are highly favorable for upsizers and downsizers alike across Central Florida. Whether you need to upsize for more space or downsize for a lower-maintenance lifestyle, you can take advantage of high home prices to maximize your equity. And with mortgage rates still affordable, it means more home for your money.


For upsizers, surging equity allows you to make a sizeable down payment while minimizing your new mortgage amount. When you sell your current home for a premium and roll that profit into your down payment, you'll instantly build up sizable home equity in your new property. This protects you from market fluctuations down the road. Of course, buying while rates are low bolsters long-term affordability. Your hard-earned equity is now working even harder for you in your new upscale home.


Downsizers have an equally compelling opportunity. Cashing out on your home's high current value lets you unlock major purchasing power while freeing up even more money for retirement, travel, or other lifestyle goals. With how much equity you've built, you may even be able to pay all cash for a beautiful new low-maintenance condo, villa, or townhome. Even with a new smaller mortgage, years' worth of equity can make it incredibly affordable. Plus, you'll escape the costs and hassles of whole-home upkeep.


At the end of the day, your home has likely never been worth more. With proper planning, that equity can be leveraged to get you into your ideal next home, whether bigger or smaller.


Reason #5: Prepare for the Future

Of course, today's ultra-competitive real estate conditions won't last forever. Central Florida may be in high demand now, but economic forces can shift, markets can cool, and new homes will eventually get built and restore inventory balance. While no one knows when or how home prices and mortgage rates may change in the future, one thing is certain: cashing out your equity now protects you from potential volatility ahead.


Given the stellar equity you can command today, selling allows you to make a strategic move that safeguards your future financial plans. Listing now locks in your home's peak value, giving you a secure cash windfall while interest rates are still low. That money can then be invested in assets with more growth potential or used to purchase your next dream home while affordability is high.


On the flip side, waiting too long to sell carries inherent risks. If home prices do begin to stabilize or dip, or if mortgage rates spike, it could significantly impact your goals of maximizing equity or securing an affordable mortgage for your next home purchase. The longer you wait, the more you're leaving on the table. The time to capture your home's full value is now.


How The Loretta Maimone Team Can Help

If the reasons above resonate with your goals, then NOW is the optimum time to get your Central Florida home on the market and start fielding offers from the scores of buyers looking for homes like yours. As your trusted neighborhood real estate advisors, The Loretta Maimone Team has the local expertise and proven strategies to ensure your home sells quickly and for maximum value. 


With decades of combined experience, our award-winning agents intimately understand the dynamics and intricacies of the local housing landscape. Using cutting-edge data and insights, we'll partner with you to price your home perfectly to spark a bidding war. Our innovative, hard-hitting marketing campaigns are tailored to capture active buyers across all mediums and drive them through your door.


In this fast-paced, ultra-competitive seller's market, you need a team with the resources, responsiveness, and personalized service to navigate every aspect of your transaction. From our in-house designers who stage your home impeccably to our savvy negotiators extracting every last dollar for you, our full-service approach leaves no stone unturned. You can be confident that selling with The Loretta Maimone Team means optimizing every possible opportunity.


If selling your Central Florida home is on your short list, we can't emphasize it enough: there has truly never been a better time than now to make your move. We're offering free, no-obligation consultations to any sellers looking to take advantage of today's sizzling real estate conditions. Get in touch with us today to get started on your path to an easy, profitable sale!

Bookmark & Share

User Comments

Be the first to comment on this post below!