July 2024

Hello everyone,

As always, I am happy to write to you in hopes that I will inspire you to think and possibly to move forward toward accomplishing your dreams. Whatever dreams you may have, “Everyday is a good day to buy and sell real estate”.

As of June 2024, home prices in Florida were up 2.3% compared to last year, selling at a median price of $419,000. The average number of homes sold was down 14.5% from June 2023. The number of homes sold in June 2024 were 32,836. The number of homes sold this year is down compared to 38,399 homes sold in June last year. The median Days On Market was 57 days, which is up 16 more days than last year in June.

Home values are still increasing while homes sales decreased in June 2024 compared to June 2023.

Buyers have been waiting for home prices to fall and interest rates to fall back to the abnormal 2-3%. I think the new normal mortgage interest rates are what they are now, around 6% and if they buy now, they may be able to refinance at a lower rate in a few years. Buyers are ready to buy, so are you ready to sell?

The real estate market changes, as prices go up and down, mortgage interest rates go up and down, but ultimately the market stays the same with transactions happening everyday.

Let me know when you are ready!

Remember my moto, “work to live, don’t live to work”.

I wish you the best and I am always committed to helping you get what you want!

Sincerely,                                                                                                                                                                                                                                                        Keith Chambers, Realtor®

 

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