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Correct, that was 2022 data. However we all know home values haven’t been doing well here. Market analysis reveals the following of the 3 worst sellers markets.

The three surrounding metro pares of the Villages are seeing significant downturns in the housing market and rank first, second and third in potential probabilities in the housing market downturn in Florida.

Ranked number 3: Ocala which has seen an average of 3 price reductions before sale with many cuts exceeding 85k. Also builders in this market have cancelled over 180 million dollars in new construction permits and insurance costs have increased 156% since 2022. All of this has contributed to a 38% increase in rental vacancies.

Ranked number 2: Wesley Chapel 58% of comps are below 2023 prices and the average home is selling for 22% less than it was 18 months ago. Numbers show homes have been sitting on the market 84 days, a change from 18 days just 2 years earlier. These could be tell tale signs that the worst may be to come. Builders are now offering to pay for 2 years worth of amenities, property taxes and insurance fees for incentives. 65 % of sales are falling though because of insurance issues or buyer remorse.

Ranked number 1: Winter Haven with 72% of all its real estate sales selling below asking. The average price cuts are at 82k on average. Some properties are selling 30% below their 2023 taxable valuations. The238% increase in foreclosures for this market are delivering a severe blow to valuations. 28% of those were purchased within just the past 3 years. In addition 45% of investors report negative cash flow in the market.

Home values are not going up under pressures like these.