Over the last few monthly reports, we were not saying that the sky is falling. We were saying that it is still a strong market, just not as strong as a year ago. The height of the market was probably a year and a half ago. We are seeing homes stay on the market longer and sellers are becoming more negotiable. The median time to sale in August 2022 was 65 days, whereas the median time to sale in August 2023 was 84 days. It is taking longer to get a contract and close the deal. We have seen a 2.6% decrease year-over-year in the percentage of the original list price received at closing, showing that sellers are being more negotiable with the sale price of their property. All of the statistical data is from the MLS focused on Single-Family Homes in Sumter County.
Overall, we still feel this is a seller’s market. I do see some price adjustment, but not a crash in the price – I think we will see less transactions — however we will see a more normal appreciation in home values.
Some of the new things coming to Wildwood are below:
- Wawa – Turkey Run
- Panda Express – Beaumont
- CVS – Corner of Powell Road and Cleveland Ave
- Sun Stop – Peppertree
- Target – Trailwinds Village
- Outback Steakhouse – Trailwinds Village
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Danny Smith, ALC, CCIM
Billie Faye Smith, Broker
Cassie Cribb, Realtor®
Lauren Vick, Realtor®