Are you keeping an eye on the Groveland real estate market? Understanding the latest trends can give both buyers and sellers a clearer picture of where the market is heading. Let’s dive into the key market statistics for Groveland’s 34736 ZIP code for September 2024 and what they could mean for you.
Market Overview
- Closed Sales: There were 38 closed sales in September, marking a 2.7% increase compared to the same time last year. This slight uptick suggests that buyer interest in Groveland remains steady, despite some of the market fluctuations we’ve seen across other areas.
- Median Sale Price: The median sale price for single-family homes rose to $405,000, a 3.8% increase year-over-year. Home values in Groveland continue to appreciate, which is a great sign for sellers looking to get top dollar for their properties.
- Dollar Volume: The total dollar volume of sales in Groveland reached $16.0 million, up 7.3% from last year. This significant growth shows that there’s still plenty of activity in the market, especially at higher price points.
- New Listings: While demand remains strong, the number of new listings has dropped by 14% compared to last year, with only 50 new homes hitting the market in September. A decrease in new listings could mean more competition for available homes, potentially driving prices higher in the coming months.
- Active Inventory: Active inventory has risen by 42%, with 160 homes currently on the market. This increase provides more options for buyers, though it’s still crucial to act fast in a competitive market.
- Pending Sales: Pending sales saw a decrease of 30% compared to last year, with 28 homes currently under contract. This dip could be due to higher mortgage rates or economic conditions, causing some buyers to pause their home search temporarily.
What Does This Mean for Buyers and Sellers?
For buyers, the increased inventory offers a wider range of choices, but with the median sale price still on the rise, acting quickly and securing favorable financing will be key. Sellers, on the other hand, are benefiting from increasing home values and a steady flow of sales, though the dip in new pending sales may indicate that some buyers are being more cautious.
If you’re planning to buy or sell in Groveland, now is the time to reach out to a local real estate expert. Staying informed about these trends will help you make smarter decisions, whether you’re looking to invest, buy your dream home, or sell your current property for the best possible price.
Need Expert Advice on Groveland Real Estate?
I’m Kenneth Linkous with Keller Williams Realty at the Parks, and I’m here to help you navigate Groveland’s dynamic market. Whether you’re interested in buying or selling, I can provide expert insights and help guide you through the process.
📞 Call me at 407-340-6447
🌐 Visit my website at https://klinkous.kw.com for more information.
Stay informed, and let’s make your next move a success!