Clermont, Florida Real Estate Market Update & Trends | October 2024

Clermont, Florida Real Estate Market Update & Trends | October 2024

we’re diving into the latest real estate market trends for Clermont, Florida, and its surrounding areas, including Minneola, Groveland, Montverde, and Winter Garden. Whether you’re buying or selling, understanding key real estate metrics is critical for making informed decisions. Let’s break down the data to help you navigate this dynamic market!

As always, I’ll be referencing median values instead of averages for more accurate market insights. Averages can be skewed by outliers—like a multimillion-dollar home inflating the price in a neighborhood of mid-range properties. The median price gives a better snapshot, showing the midpoint where half of the homes sold for more and half for less.

Clermont Real Estate Market Data

Clermont, one of Central Florida’s most desirable locations, continues to see market activity despite shifting conditions.

• Months Supply of Inventory (MSI): 4.12 months
  The MSI measures how long it would take to sell all current homes on the market if no new listings were added. An MSI under 5 months signals a seller’s market, while Clermont is approaching a more balanced market, giving both buyers and sellers opportunities.
• Year-Over-Year Inventory Increase: 99.03%
  With nearly double the inventory compared to last year, buyers have more choices, slightly tilting the balance in their favor.
• Median Days on Market (DOM): 35 days
  Homes are selling in just over a month, which shows properties are still moving relatively fast, especially when they’re priced competitively.
• List to Sold Price Percentage: 97.9%
  Sellers are getting close to their asking prices, maintaining strong pricing power despite increased inventory.
• Median Sold Price: $479,126
  This price gives a solid benchmark for both buyers and sellers in the area. Clermont continues to be a hot spot for buyers seeking a balance of value and lifestyle amenities.

Minneola Real Estate Market Data

Minneola is experiencing a fast-paced market with high demand and limited supply.

• Months Supply of Inventory (MSI): 2.76 months
  This low MSI signals a strong seller’s market, where demand outpaces available homes.
• Year-Over-Year Inventory Increase: 55.06%
  Inventory has grown, offering more options for buyers. However, with homes selling so quickly, competition remains fierce.
• Median Days on Market (DOM): 25 days
  Homes are flying off the market in under a month, making Minneola one of the faster-moving markets.
• List to Sold Price Percentage: 98.3%
  Buyers are paying near asking price, indicating competitive pricing and strong demand.
• Median Sold Price: $547,847
  New construction is a major factor in this area, contributing to rising home prices. Developments like Hills of Minneola and Del Webb Minneola are driving growth, with builders offering attractive incentives like closing cost assistance and rate buy-downs.

Groveland Real Estate Market Data

Groveland’s market dynamics are shifting, with more inventory but steady demand.

• Months Supply of Inventory (MSI): 4.33 months
  Groveland is approaching a balanced market, with neither buyers nor sellers having a significant advantage.
• Year-Over-Year Inventory Increase: 135.33%
  With more than double the number of homes on the market compared to last year, buyers now have a greater selection to choose from.
• Median Days on Market (DOM): 30 days
  Homes are selling within a month, maintaining steady demand in this area.
• List to Sold Price Percentage: 98.3%
  Sellers are still receiving offers close to their list price, reflecting a balanced negotiation environment.
• Median Sold Price: $399,000
  This affordable price point makes Groveland an attractive option for buyers seeking more value while staying close to the Clermont area.

Montverde Real Estate Market Data

Montverde remains a more exclusive market, with higher price points and a balanced dynamic.

• Months Supply of Inventory (MSI): 5.04 months
  Montverde is in equilibrium, meaning there’s a balance between buyer demand and seller supply.
• Year-Over-Year Inventory Increase: 68%
  Buyers now have more options than last year, but Montverde remains a competitive market for higher-end properties.
• Median Days on Market (DOM): 31 days
  Homes in Montverde are selling in just over a month, reflecting continued demand.
• List to Sold Price Percentage: 92.8%
  Buyers here may have a bit more negotiating power, as homes are selling for slightly less than the asking price.
• Median Sold Price: $671,250
  Montverde’s median price reflects its upscale market, offering luxury living in a tranquil setting.

Winter Garden Real Estate Market Data

Winter Garden is a rapidly growing area with a competitive market.

• Months Supply of Inventory (MSI): 3.65 months
  This is still a seller’s market, but inventory increases are moving it toward balance.
• Year-Over-Year Inventory Increase: 71.36%
  More homes are available, but the market remains competitive with high demand.
• Median Days on Market (DOM): 36 days
  Homes are selling quickly, indicating strong buyer interest.
• List to Sold Price Percentage: 98%
  Sellers are getting very close to their asking prices, reflecting ongoing demand for homes in this area.
• Median Sold Price: $650,000
  Winter Garden’s higher median price reflects its desirable location and ongoing development, making it a top choice for buyers looking for a vibrant community with modern amenities.

Real Estate Market Recap

Across Clermont, Minneola, Groveland, Montverde, and Winter Garden, we’re seeing a gradual shift toward a balanced market. Increased inventory and slightly longer days on market suggest more opportunities for buyers, but sellers still have strong pricing power, especially in well-maintained, competitively priced homes.

However, it’s essential to note that sellers are competing not only with resale homes but also with new construction properties. Builders are offering significant financial incentives—such as closing cost contributions and rate buy-downs—which can make new homes more appealing to buyers. Sellers must ensure their homes are in pristine condition to stand out and attract competitive offers.

If you’re thinking about buying or selling a home in Central Florida, I’m here to help guide you through the process. Real estate is hyper-local, so if you’d like specific data on your neighborhood or zip code, don’t hesitate to reach out. Call me today at 407-820-7070 to discuss your real estate goals and make informed decisions in this evolving market.

Let’s get started on finding your dream home or securing the best price for your property!