Sanford FL Real Estate Report August 2020

Curious what’s selling in Sanford? 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!

For those who want to dig deeper, scroll down all the way to download the complete sortable data spreadsheet!

But first things first.

How is the Market Doing?

Just as in previous months, we can confirm that August 2020 has been yet another active month! Despite the fact that sales are down from the previous month (and even more if compared with the previous year), home values remain very strong and continue to rise! Now the big question: will this trend continue as we’re headed into Fall, which is traditionally a more slow time of the year for real estate (leading into the Holidays when real estate activity comes to an almost standstill year after year)? Or will the demand remain strong thanks to the incredibly (!) low mortgage rates? Well, 2020 is a year like no other, so we are excited to see what happens in this real estate thriller…

To all you Buyers: hang in there!! We believe interest rates will remain low for a little while longer so it’s all about being prepared and ready when that dream home pops up! Yes, it’s not nice to be up against other buyers in a multiple offer situation, but right now it’s worth it to go all in. Securing a fixed interest rate as low as 2.75% on a 30 year mortgage for example will allow you to buy a lot more home than whatever you could have gotten in previous years.

A note to prospective Sellers: give those buyers the homes!! If you have been pondering about selling your home, we do believe that now would be an excellent time to do so. If you’re curious what your home could sell for in today’s market, we will gladly provide you with a free home value estimate so you can make an informed decision.

Sanford’s latest Real Estate Numbers

In the month of August 2020, 129 homes sold on MLS. That’s 15 homes less than in July of 2020. For comparison, in August 2019, 167 homes sold on MLS. That means August 2020 saw a 23% drop in home sales (38 homes less) compared to the previous year. However, we still see home values going strong, and homes that enter the market selling quickly due to the above mentioned still very low inventory and historically low interest rates.

Click here to view them all Sanford real estate sales on a map and find out more details about each home.

The average sales price for homes (including Single Family Homes, Townhomes and Condos) sold in August 2020 in Sanford, FL was $292,231 (up from $268,637 in July 2020). For comparison, in August 2019 the average sales price was $278,873, so prices increased by roughly 5% compared to the previous year.
The average sold price per square foot was $152.17 (up from $149.80 last month).
The average days on market were 43 days (down from 48 days last month).
The lowest priced home in Sanford was a 1 bedroom 1 bathroom Single Family Home of 624 square feet. It sold for $65,000.
The highest priced home in Sanford last month was a 7 bedrooms, 6 bathrooms Single Family Home of 5,100 square feet. It sold for $1,200,000.

Click here to view a list of all sold homes in Sanford during the month of August 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:

Let’s take a quick look at a home that is currently pending in Sanford. We LOVE this cute two-story 3 bedroom 2 bathroom home, a true Sanford charmer located in the Residential District of Historic Downtown… Check it out here!