Real Estate Market: October 2023 Insights

Navigating the Citrus County Real Estate Market

Hello everyone, Ruth Squires here from RES Luxury Group with eXp Realty. Welcome back to another episode of our Monthly Market Stats. Today, we're diving into the real estate trends for Citrus County, Florida, for October 2023. Let's get right into it.

Inventory is On the Rise

First up, let's talk inventory. As of today, we have 1,031 active homes on the market in Citrus County. That's a 0.75% increase from last month. While this may seem like a small percentage, it's a significant indicator of where the market is heading.

A Dip in Buying Activity

On the flip side, buying activity has seen a slight decline, down by 0.5%. This is likely influenced by the rising interest rates we've been experiencing. So, if you're a buyer, this is something to keep an eye on.

The List-to-Sale Ratio

For those of you looking to sell, the list-to-sale ratio currently stands at 96.84%. This means that if you're listing your home, you can expect to negotiate down to around 96-97% of your asking price.

The Power of Loan Assumptions

We've also been discussing the benefits of loan assumptions. This is an opportunity to take over a lower interest rate loan from a seller. If you're not familiar with how this works, we have previous videos that delve into the details, so be sure to check those out.

Special Tip: Quick Closings

Now, for those waiting for interest rates to drop, here's a tip: be prepared to close quickly. Our team specializes in 12-day closings. Imagine being able to present an offer with inspections done in three days and closing in just 12. You'll be even more competitive than a cash buyer, who typically looks to close in 30 days.

Ready for the Holidays

What's more exciting? If you act now, you could be in your new home before Thanksgiving or even Christmas. Our team is ready to assist you every step of the way.

Get in Touch

For more information or to get your pre-approval in place, don't hesitate to give us a call at (352) 794-1426. At RES Luxury Group, we're committed to providing you with white-glove service and red-carpet treatment because your satisfaction is our guarantee.

Have a great day, and stay tuned for more market insights!

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