The market is still strong. The median sale price of single-family homes in Sumter County for August 2024 is $380,000, an increase of 5.6% from $360,000 in August 2023. The average sale price for August 2024 is $444,323, increasing 1.4% from $438,087 in August 2023. Sumter County single-family homes months’ worth of inventory for August 2024 is 4.6, which is still a sellers’ market but closer to the equilibrium of 5.5 months. Inventory has increased by 1% since January 2024. The number of closed sales is up slightly, 4.3%, from last year. The median time to sale in August 2024 was 78 days, down from 84 days in August 2023. The market seems to be evening out; It will be interesting to see how rate cuts will impact this over the next few months. Interest rates have dropped 0.5% — 8% to 7.5% on prime. More rate drops are expected to come over the next year.
The City of Wildwood’s parking garage is now open. It is wonderful to finally see the downtown master plan coming to life. Wildwood Parks and Recreation is hosting a cookie decorating event on October 4th at 6:30 pm at the Warfield Auditorium. They are also having Fall 2024 Flag Football for ages 5-15. The registration deadline is October 4th. On October 10th at 6 pm, Wildwood Parks and Recreation is hosting Fashionably Pink Breast Cancer Awareness Fundraising Dinner & Fashion Show at the Wildwood Community Center. There will be dinner, a silent auction, and the fashion show. Please see Wildwood FL Parks and Recreation on Facebook for more information.
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Smith & Smith Realty
