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

FAQs

Is this a good time to sell a house in Florida? ›

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.

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%.

Florida's Real Estate Market

Interest rates were rising throughout 2022 and as a result, housing market activity declined. Hence, the deeper you go into 2023, the numbers will start looking more favorable than what it was a year ago.

It's a place of good environment and small businesses, though with plenty of land and safe drivings. Great place to raise a family. Small Town feel and you can hear the air boats and cows in the background. Love this town.

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.

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.

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.

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.

In 2022, there were 21.3 times more White (Non-Hispanic) residents (8.02k people) in Hernando, FL than any other race or ethnicity. There were 376 Two+ (Non-Hispanic) and 330 Black or African American (Non-Hispanic) residents, the second and third most common ethnic groups.

12.5% of the population for whom poverty status is determined in Hernando County, FL (24.1k out of 194k people) live below the poverty line, a number that is lower than the national average of 12.5%. The largest demographic living in poverty are Females 55 - 64, followed by Males 55 - 64 and then Females 25 - 34.

Are house prices expected to drop in Florida? ›

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.

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.

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.

Winter is Peak Selling Season

Depending on the type of home you are selling, Florida's prime season for selling homes is often believed to be during the winter months, specifically from December to February. Mild temperatures and the influx of snowbirds make this an ideal time to list your property.