What a unique time for our Clermont area real estate market. Sellers in most neighborhoods continue to benefit from moderately increasing home values, and buyers continue to benefit from historically low interest rates.
Why are the values still on the rise? To a large extent, it has been driven by a decreasing supply of inventory and strong buyer demand. The total number of Clermont homes on the market at any given time has decreased every year consecutively for the past decade, while the number of homes being sold during those periods has steadily increased. Low supply and high demand is a win for sellers!
Oddly enough, however, buyers are winning in this market too. The average home sales price for Lake County in June 2018 was $244,000 and the average 30 year fixed mortgage rate was 4.57% resulting in a $1246 payment. Fast forward to June 2019, the average sales price was $252,000 and average rate was 3.8%, resulting in a $1174 payment. Even though the average home value increased 3.3%, the average payment for that home actually decreased 5.8%. Win for the buyer!
If you are considering buying or selling in this market, it’s important to choose the agent who will advise, assist and alleviate undue stress, not convince you it’s time to buy or sell. Trust Brandie and her proven track record of success to guide you through the process. Contact Brandie Mathison-Klein Group of Keller Williams Elite Partners III Realty at 352-432-3200 or visit BrandieSells.com