Hernando County's Housing Market Is Sending Mixed Signals

If you’ve been keeping an eye on the Hernando County market, July’s numbers are a bit of a mixed signal, and it’s worth understanding before you make your move. Supply got tighter, but prices didn’t take off the way you’d think.

Supply is where the real story is. Sellers just aren’t listing like they were. Based on our local MLS data, new listings are down 18% from a year ago, active inventory is down nearly 25%, and homes are getting absorbed faster than they were. Our months of supply dropped to 3.66, the tightest in over a year. So there’s less out there, and what’s out there doesn’t last as long.

Here’s where it gets interesting. Even with the supply that tight, the median sale price came in right around $306,000, basically flat, actually down about 1% from last July. That’s the mixed signal, and it’s good news if you’re buying, because you’ve still got some room on the right home even in a tight market.

Pricing right from day one matters more than ever. Homes are selling closer to asking than they have in months, the sold-to-list ratio is up near 93.9%, so sellers who price it right are getting close to full value. But days on market are longer than last year because buyers aren’t in a hurry and have options.

Price it right, and your home moves fast and close to asking. Price it too high, and it just sits there, only to end up chasing the market down. You don’t get a second first impression, and you can’t negotiate an offer you never get.

Less inventory, but prices are holding steady. Sellers, price it right from the start, and your home moves. Buyers, you’ve got more room to negotiate than you’d expect in a market this tight. Either way, it helps to know exactly where your home, or the one you want, fits into these numbers.

Want to figure that out together? Reach out and let’s talk. Call or text us at 352-354-2454, email us at Michael@HappyFloridaHomes.com, or visit happyfloridahomes.com.