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s we prepare for Hurricane Milton's landfall, I want to emphasize the importance of being cautious during this time. Please be aware of potential scammers who may target homeowners with damaged properties. As a local Realtor in Plant City, I've witnessed firsthand how the real estate market has evolved due to rising interest rates, fluctuating inventory, and changes in buyer demand.
In today's complex market, sellers need to price their homes correctly to attract buyers. Gone are the days of quick sales above asking price; now, it's essential to have a deep understanding of current trends and targeted marketing. This is where an experienced Realtor comes in – someone who dedicates themselves to staying ahead of the curve and has a proven track record of success.
Working with a full-time professional who has access to a global network and a dedicated marketing team can make all the difference in today's competitive market. They'll help position your home to attract the right buyers, negotiate on your behalf, and get the best possible outcome.
As we look at the Plant City housing data for September 2024, our market area had 95 homes sell, with new construction contributing over 50% of the units sold. We have a 2-month supply of inventory, and our average days on market increased to about 44 days – still favoring sellers who price correctly.
The average sold price in September was $357,001, down 6.5% from last month, while the average price per square foot was up 1.2%. Year-to-date data shows a 34% increase in units sold, mainly due to new construction. However, YTD average sold prices are down slightly, and YTD price per SF is down about 3.3%.
The prevailing mortgage rates from Freddie Mac continue to decline, with the 30-year term loan averaging 6.18% in September – a decrease from August's average of 6.50%. The FED's rate cut will enhance buyer purchasing power and increase demand on the limited housing inventory.
As we move forward, it's essential to seek an experienced Realtor who can guide you through this complex market. With changing circumstances, job locations, family sizes, and life events, a professional Realtor will help you navigate the supply-demand models and interest rate fluctuations. Don't go it alone – get the real scoop on our market and trust your transaction to someone with expertise, resources, and dedication.
Here are some recent sales in the Plant City Market Area:
* 712 E Madison St sold for $145,000
* 503 Scarlet Maple Ct sold for $254,950
* 2711 Sawmill Rd sold for $295,000
* 503 W Dixie St sold for $297,000
* 3525 Radiant Mountain Dr sold for $309,990
* 3434 Ivy Hollow Dr sold for $335,215
* 2237 Moriczville Ln sold for $350,000
* 2310 Village Green Blvd sold for $368,000
* 2211 Tomberlin Grove Ln sold for $389,000
* 2207 Via Napoli St sold for $400,000
* 7724 Shoupe Rd sold for $439,000
* 914 N Collins St sold for $467,500
* 3020 Leila Estrelle Dr sold for $545,000
* 673 Half Mile Rd sold for $685,000
* 2707 Aston Ave sold for $735,000
