For those of you who have been following the real estate market closely, this month’s report will hopefully give you some answers as to what is happening in the local real estate market during the CoVid-19 pandemic.
We’ve got the most important real estate market stats for Zip Codes 32771 and 32773 right here – and in simple and easy to digest format!
As always, for those who want to dig deeper, scroll down all the way to download the complete sortable data spreadsheet!
The Anticipated Drop
In the month of April 2020, 110 homes sold on MLS. That’s 42 homes less than in March of 2020. For comparison, in April 2019, 150 homes sold on MLS, so numbers did drop from the previous year. However, has this affected home values? Let’s find out!
Low, Lower, Lowest
We think that the drop in sales was definitely related to lower buyer activity due to the pandemic. We agree though with many of the other experts that there currently is a pent up demand as well as inventory that is just waiting to be unleashed. We still see lots of activity and can assure you, there are serious Buyers out there looking, however sales won’t increase unless there are also more homes on the market. The fact that inventory is so low is helping to keep prices stable. Combining that with interest rates still at historic lows makes it clear that we are definitely still in a Seller’s Market which brings us to the next question…
To Sell or Not to Sell?
Despite all the extra challenges when it comes to selling a home during a health crisis (face masks and gloves, oh my!), and against what you might think, right now is actually a pretty good time to sell your home. So if you have been on the fence about it, let’s chat! We can show you exactly what is happening in the marketplace so you can make an informed decision. You can contact us here or simply text/call 407-340-6548.
More Details about Real Estate Sales in Sanford
Click here to view all sold homes on a map and find out more details about each of them.
- The average sales price for homes (including Single Family Homes, Townhomes and Condos) sold in April 2020 in Sanford, FL was $248,304 (down from $271,947 in March 2020).
- The average sold price per square foot was $142.62 (down from $146.47 in March 2020)
- The average days on market was 41 days (down from 44 days in March 2020).
- The lowest priced home in Sanford was a 2/1 Single Family Home of 1,172 Square Feet. It sold for $35,000.
- The highest priced home in Sanford last month was a 4 bedroom, 3 and 1/2 bathroom Single Family Home of 4,735 Square Feet. It sold for $949,000.
Here you can find a list of all sold homes in Sanford for April 2020
As usual, please let us know if you have any questions or would like more information about any of these homes. Jose and I would love to help you with all your real estate needs. You can call or text us at 407-340-6458 or complete the form at the bottom of this page!
Look what’s pending in Sanford
For all our beloved real estate nerds (like us)…
Click here to download the sortable spreadsheet. (Excel Format)
Meanwhile in Orlando…
And here a quick look at the overall real estate activity in Orlando this March 2020 (once the Orlando Regional Realtor Association updates their numbers we will be posting the April 2020 real estate market update video here!)