Real Estate Trends in Oviedo, FL (32765)

The Average Price per Square Foot for Single-Family Homes in Oviedo, FL dived sharply in November of 2008. Prices have been vacillating ever since, showing only a little further weakening yet also failing to demonstrate any strong signs of recovery.

Average Sold Prices are showing a nice ‘little dipper’ in the last 3 months. Only time will tell whether this is the beginning of a recovery or only a temporary upswing.

Average For Sale Prices are holding steady with homeowners waiting for a market recovery that may or may not happen.

Source: Trendgraphix, Inc. and Mid-Florida Regional Multiple Listing Service. Reports based on sales data available for the most recent month of activity.

In general, homebuyers are searching for bigger and newer houses with upgrades galore, 4 or 5 bedrooms, 2.5 or 3 baths, and pools. Plus they want to buy their dream house at the lowest price possible.

Home sellers must be prepared for aggressively priced contract offers. If they have a listing agent who can support the listing price with sound statistics and can also keep the owners apprised of current market conditions, then they will be in a strong position when an offer does come along. However, they must be prepared to compete with distressed properties (Short Sales and REO/Bank-Owned), which are attracting buyers looking for the best deals available.