In the last few years, the real estate market has favored sellers because the inventory of available homes for sale was low, homes were selling very quickly once they were listed, and home buyers were fighting to make the best offer. But, is Champions Gate a buyer’s or seller’s market?

In 2022, things have begun to shift throughout the country. So much so, the National Association of Realtors has reported that pending home sales around the country dropped in the last few months, and this could affect those who are looking to sell their homes. So, what does this information mean for you? Keep reading for a more in-depth look at the real estate market in Champions Gate.

Know the Difference between a Home Buyer’s Market and a Home Seller’s Market

The first thing that you need to know and understand is the difference between a buyer’s market and a seller’s market. It all comes down to a basic concept of economics: supply and demand. Depending on the circumstances of the area in which you live, supply and demand can vary, and this will be the determining factor when it comes to your ability to buy or sell a home successfully.

Home Buyer’s Market

When the real estate market is in favor of home buyers, the primary factor that determines this is the supply of homes in the area. If it is a home buyer’s market, that means the supply of homes outweighs the demand for them. With a surplus of homes, buyers will have their choice of what they consider the perfect house for their families and can usually get a great deal without going over their budgets or paying the full asking price of the home sellers. 

Home Seller’s Market

Conversely, the opposite is true for a home seller’s market. In this case, the supply of homes is low but the demand for them is very high. This gives sellers the advantage, and they will often end up with multiple offers for their homes, all over the asking price.

Knowing the current state of the real estate market is critical for anyone thinking about buying or selling a home in Champions Gate, FL. You will need to know if you will be at an advantage when it comes to making an offer, negotiating, and closing the deal. 

Is Champions Gate a Home Buyer’s or Home Seller’s Market?

Now we can answer your vital question: is Champions Gate a buyer’s or seller’s market? Current data for October 2022 shows that the market is still leaning in favor of home sellers, but this does not appear to be remaining steady for the foreseeable future. The listing price for homes in Champions Gate has risen from October 2021 to October 2022.

However, data from the last few months suggests that a change is approaching. From September 2022 to October, home listing prices have only risen slightly, but are dramatically lower overall from earlier parts of the year. Likewise, the number of homes for sale has increased as well as the length of time that those homes remain listed on the market before selling. 

With these trends in mind, it is clear that Champions Gate will soon be more in favor of the home buyers. What is causing this change to occur? It could be the rising interest rates and, more specifically, the recent mortgage rate hikes enacted by the Fed in the last few months. They have pushed these rates to over 7% as an attempt to moderate the rising inflation. However, the hikes are causing more and more home buyers to reassess their financial situation and potentially postpone their investment until the market cools. 

For all of these reasons, it is essential to have an experienced realtor on your side to guide you through the often-murky waters of the real estate market and help you decide if now is the right time to buy or sell a home in Champions Gate, FL. Our realtors at Your Home Sold Guaranteed Realty – Laura Peterson Team are here to make sure you have all of the information you need to make the best decisions for you and your family.

Contact Us to Start Your Real Estate Journey in Champions Gate, Florida?

As a home seller or home buyer, it is important that you make sure the current real estate market is in your favor before you list your home or make an offer. With the current trends in the industry, right now is a great time for home sellers to maximize the profit on their investments but home buyers should also be paying close attention to those changes.

If you are ready to buy or sell a home in Champions Gate, FL, be sure to contact Your Home Sold Guaranteed Realty – Laura Peterson Team to get all of the details you need to start your real estate journey. Our realtors are here to make sure you are able to sell your home fast and get the highest possible price, and we can also ensure that home buyers are able to get the best price on the home of their dreams.
We are waiting to hear from you and are excited to assist you with everything that needs to be done to finish your real estate transaction. Call us at (407) 566-2555 to get started!