Hernando FL Real Estate - Hernando FL Homes For Sale | Zillow (2024)

FAQs

Is there a shortage of homes for sale in Florida? ›

Housing inventory levels in Florida are up the most in the nation on a year-over-year basis (34%), but the bulk of the increase is really concentrated in sections of Southwest Florida. In particular, in markets like Cape Coral and Fort Myers, which were hard-hit by Hurricane Ian in September 2022.

Spring (March to May)

Spring is traditionally one of the best times to sell a house in Florida. The housing market experiences a boom with high buyer activity, particularly from Northerners looking to escape harsher weather conditions. Homes listed in spring tend to sell more quickly and often command higher prices.

What the Numbers Say. The Ramsey Solutions research shows that housing prices in Florida have gone up, especially when comparing the fourth quarters of 2022 and 2023, respectively. At the end of 2022, the median sales price of a Florida home was $401,990.

St.

Petersburg is one of the hottest cities in the Florida real estate market. Nicknamed the “Sunshine City,” St. Petersburg is a popular place for golfing, boating, fishing, and hanging out at the beach, making it a desirable place to live and work.

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. Home Sales: As per June 2024 data, home sales decreased by 14% YoY! Only 32,836 homes were sold, down from 38,399 in June 2023.

Is it a Good Time to Buy or Sell in Florida? The Florida real estate market continues to appreciate; therefore, even with higher mortgage rates, buying now could prove to be a worthwhile investment. The median sale price is predicted to continue rising between the strong demand and low inventory.

December and January are considered the worst months to sell a house in Florida. In December, houses stay unsold for longer on the market.

Typically, winter time is the slowest of the year to sell a property, specifically November, December, and January. However, there are some exceptions because there are several conditions that affect the housing market.

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 6.3%, making the average house payment $2,582, which is $285 lower than a year before.

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%.

Will Florida home prices drop in 2024? ›

According to Zillow, home price appreciation is expected to slow down significantly in the coming years, with a predicted increase of only 3.4% for 2024. This could provide relief to buyers who have been priced out of the market in recent times.

Once a relatively affordable place to enjoy abundant sunshine and warm temperatures year-round, property values have risen significantly in recent years. For example, the average Florida home value is currently $399,944, compared with $249,725 in January 2020, according to Zillow.

The most expensive neighborhood in the country is in the Coral Gables section of Miami, where a home in the gated Gables Estates community is on the market for more than $21 million, according to data compiled by Bloomberg News.

"Inventory is growing stale fast in Texas and Florida largely because those states are building far more homes than anywhere else in the country, contributing to rising supply, and because some homebuyers are nervous about the increasing prevalence of natural disasters," Redfin said in its analysis.

While Florida is booming in home sales and new construction, the influx of people moving to the state means affordable housing remains an issue, according to a new report from the University of Florida. More than 450,000 people moved to Florida in 2021 and 2022, according to the report.

Is your house updated? In competitive markets it is not easy to stand out and be the house buyers want. Features like stainless steel appliances, quartz or granite countertops, and updated bathrooms are considered a must if you want to get top dollar for your house.