Hernando County, FL Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Is now a good time to sell my house in Florida? ›

Best Time to Sell Your House for a Higher Price

April, May, and June are the best months to sell your house in Florida. The median sale price of houses in June 2023 was $409,600, which is expected to rise in 2024. However, cities like Doral and Palm Breach Gardens follow an upward trend throughout the year.

The nine Florida markets were all listed as overvalued by double digits. Of the biggest 100 U.S. metro housing markets considered overvalued, the Miami metro area ranked 11th at 34.7%.

Closing costs in Florida are among the highest in the country. Buyers and sellers have to pay many fees at closing. To avoid high closing costs on closing day, you could pay in cash, negotiate for the seller to pay all or some of the costs, or see if you can roll the costs into your mortgage.

Florida Has a Great Economy

With better-than-average growth in private sector jobs and low taxes, it's an attractive place. Josh Steppling, a real estate agent, thinks it is a great place for long-term investors. “The Florida economy is thriving,” Steppling said.

The worst time to sell a house is typically during the winter months, particularly in December, January, and February. During this period, bad weather can deter potential buyers from attending open houses, and many people are preoccupied with holiday activities and planning.

Is it a buyer's or seller's market in Florida? It is considered a seller's market right now. Housing inventory is up since last year, which means supply is less constrained. Mortgage rates are 6.8%, making the average house payment $2,746, which is $87 lower than a year before.

Average Home Prices: The average median home price in Florida is $419,200. In 2024, experts predict the median sale price may decrease due to the increased inventory. Currently, the sale-to-list price ratio is at 96.90%, with a decline of 0.53 pt YoY.

It's difficult to predict whether home prices in Florida will go down. Various factors come into play and the outcome remains uncertain. However, based on the current market momentum, it appears that the price growth may slow down, with potential decreases in some areas.

Closing costs in Florida may be higher compared to other states due to factors such as higher property values, higher insurance costs, and higher taxes.

According to BankRate's report, you do need to make a six-figure income (around $114,771 a year) to buy a home in Florida in 2024.

How much is a decent house in Florida? ›

The average Florida home value is $399,130, up 1.8% over the past year and goes to pending in around 37 days.

The minimum down payment for a conventional mortgage loan is 3%, but you will need to pay for private mortgage insurance (PMI) if you bring less than 20% down to closing. To qualify for a Conventional mortgage, you'll need a credit score of at least 620 points and a debt-to-income ratio of no more than 43%.

While waiting until 2025 might bring lower interest rates, the advantages of buying now, such as less competition, significant migration to Florida, and innovative housing trends, make it a compelling option.

Spring and summer are the best times to sell your house fast - and the best time to get the highest price for your home. Specifically, houses sell for the most in June, followed by May. According to Redfin, the average sale price of homes sold in Florida in 2022 was as follows: June: $410,100.

It's difficult to predict whether home prices in Florida will go down. Various factors come into play and the outcome remains uncertain. However, based on the current market momentum, it appears that the price growth may slow down, with potential decreases in some areas.

Best Time to Sell Your House for a Higher Price

April, June, and July are the best months to sell your house in California. The median sale price of houses in June 2023, was $796,400, which is expected to grow more in 2024. However, cities like Arcadia and San Mateo follow an upward trend throughout the year.

Should I sell my house now, before there's a recession? Recessions mean belt tightening and potential layoffs, and if your area is hard-hit by job losses, the number of qualified buyers will be severely limited. If you're concerned, it might be best to sell before that (potentially) happens.

In a recent note, Chief US Economist Michael Gapen and his team revealed that they expect home prices to rise by 4.5% this year and 5% in 2025. Gapen doesn't foresee the market cooling down until 2026 at the earliest. With this in mind, current homeowners can sell for even higher prices down the road.