Citrus County Real Estate Market Report - December 2023

Welcome to the Citrus County Real Estate Market Report for December 2023.

As we approach the end of the year, it's crucial to stay updated on the current state of the market. In this report, we will discuss recent trends, inventory levels, buying activity, and interest rates. Whether you're a potential buyer or seller, we have valuable insights to help you navigate the real estate market in Citrus County, Florida.

Current Market Overview

As of November 2023, inventory levels in Citrus County have seen a rise, providing buyers with more options. However, buying activity has shown a slight decline. With more homes on the market and slower sales, it's natural to observe a slight adjustment in the days on market across various price categories. These trends are in line with the current market conditions.

Favorable Interest Rates

A positive note for buyers is the downward trend of interest rates. As of today, the average 30-year mortgage rate stands slightly above 7%, a significant decrease from the previously recorded peak of over 8%. This decrease presents an excellent opportunity for those considering purchasing a home.

The Holiday Advantage

The holiday season brings a unique advantage to both buyers and sellers. For buyers, the homes on the market during this time usually belong to motivated sellers. These homeowners often have a heightened desire to sell their properties quickly, making negotiations more favorable for potential buyers.

Similarly, sellers who receive offers during the holiday season can expect more serious buyers. Many casual buyers may have their attention diverted by holiday plans, leaving behind only those genuinely interested in making a real estate transaction. So, if you're thinking of selling, it's an opportune time to attract quality buyers.

Luxury Property Selection

Citrus County offers a range of luxury properties for discerning buyers. Currently, there are 20 homes listed above $1 million. Among these, you'll find seven farm properties with acreages ranging from six to 82 acres. If waterfront living is your dream, there are 12 stunning waterfront homes available.

For those seeking a combination of luxury and amenities, there is one outstanding home in Terra Vista. While there are numerous options available at varying price points in Terra Vista, this particular property stands out with its newer build, spacious interior, and desirable features. Reach out to us for a comprehensive list of luxury properties or to schedule a viewing of any of these unique homes.

Contact Information

To explore the possibilities that the Citrus County real estate market has to offer, reach out to Ruth Squires at RES Lodger Group. For a list of luxury properties or any other inquiries, please text your request to 352-476-3303. You can also contact us directly at 352-794-1426 for personalized assistance with buying or selling your property.

Conclusion

In conclusion, the Citrus County real estate market is currently witnessing increased inventory levels and decreased buying activity. However, lower interest rates provide an excellent opportunity for potential buyers. Additionally, the holiday season creates an advantage for both buyers and sellers, as motivated sellers and serious buyers converge during this time. If you're interested in luxury properties, Citrus County offers an array of options, including farm properties, waterfront homes, and exceptional homes in communities like Terra Vista. Contact Ruth Squires at RES Lodger Group to make the most of the current market conditions.

Frequently Asked Questions

  1. When is the best time to buy a home in Citrus County?
    The current market conditions, including rising inventory and lower interest rates, make it an opportune time to buy a home in Citrus County. Reach out to RES Lodger Group for personalized assistance.
  2. Are there any specific advantages of buying during the holiday season?
    Buying during the holiday season can benefit buyers as motivated sellers are more inclined to negotiate and close deals quickly. Serious buyers also tend to be more active during this time.
  3. How many luxury properties are available in Citrus County?
    Citrus County currently has 20 homes listed above $1 million, including farm properties, waterfront homes, and exceptional properties in communities like Terra Vista.
  4. How can I schedule a viewing of a luxury property in Citrus County?
    To schedule a viewing, simply contact Ruth Squires at RES Lodger Group and express your interest. We will ensure you have access to view your desired luxury properties.
  5. What are the advantages of working with RES Lodger Group?
    RES Lodger Group provides personalized assistance for buying or selling properties in Citrus County. We are here to help you navigate the real estate market and make informed decisions to meet your unique needs.

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