Will this happen in The Villages?

[SoCalGal]

Our lifestyle tour realtor said that price declines elsewhere in Florida don't significantly impact the home values in The Villages. What has been your experience?


Florida Housing Market Facing 'Widespread Price Declines' - Newsweek (https://tinyurl.com/FLwidespread)

[Craig Vernon]

The top ten commandments in the training for a Village realtor are Thou shall not say anything negative about the TV. Also, it is a Jedi mind trick these are the homes you're looking for. These issues matter twice before you buy and when you sell. Enjoy the Middle.

[BrianL99]

The top ten commandments in the training for a Village realtor are Thou shall not say anything negative about the TV. Also, it is a Jedi mind trick these are the homes you're looking for. These issues matter twice before you buy and when you sell. Enjoy the Middle.

Only 20%--25% decline over the last 2 years. Not bad.

[Stu from NYC]

Prices have gone down all over after going up about 50% in a few years.

[Craig Vernon]

Only 20%--25% decline over the last 2 years. Not bad.

Shhh. You are not a Village realtor...LOL

[rustyp]

Our lifestyle tour realtor said that price declines elsewhere in Florida don't significantly impact the home values in The Villages. What has been your experience?


Florida Housing Market Facing 'Widespread Price Declines' - Newsweek (https://tinyurl.com/FLwidespread)

Yes that is my experience by TV salespeople for the past 20 years - I suggest you research 2008 sales.

[SoCalGal]

Only 20%--25% decline over the last 2 years. Not bad.

Really? Are you being facetious?

[SoCalGal]

Yes that is my experience by TV salespeople for the past 20 years - I suggest you research 2008 sales.

I can't find a graph that goes that far back.

Access to this page has been denied (https://www.zillow.com/home-values/7403/the-villages-fl/)

[graciegirl]

Really? Are you being facetious?

I am wondering the same thing. Homes for sale in our Village. (Bridgeport at Laurel Valley) have sold quickly and for much more than they were purchased for.

Sometimes I think that outside realtors who can't sell the new homes are jealous of the Village realtors. I haven't heard or seen any drop in prices.

[biggamefish1]

I have lived in my home in TV since purchasing it in 2016. Nothing less than the value going up each year and more than doubling the purchase price. Just stay away from Condos

[Pairadocs]

[QUOTE=SoCalGal;2402545]Our lifestyle tour realtor said that price declines elsewhere in Florida don't significantly impact the home values in The Villages. What has been your experience?

Like the nation, not just Florida, homes here have declined some in price. Why would a sales agent say otherwise ? A few meticulous agents out there that even though it might effect their income probably exist and will tell you the absolute truth, but, use your head not your emotions, you KNOW that prices go up and they decline, always have throughout history. I've found overall, after the ups and downs here, and in other locations, the overall effect is most homes will appreciate over time. Of course there are some examples, especially in large cities where economic collapse has been catastrophic, where homes have gone to nearly no value. Not likely in Florida would be my guess, but only one opinion among many. As an aside, I think many folks that might be the fate of the original portion of the villages. Once a community of manufactured homes, then some site built homes, it's now in a renaissance stage, homes sites completely razed, beautiful brand new site built homes on many lots, many other updates to rec centers, parks, etc. and one of the most beautiful country clubs in the Villages. It's always a good sign to observe what happens to the very first areas of a development even if it's not the area you are considering. It at least gives a clue as to if the area will be maintained, improved, or ignored in the future.

[kansasr]

I am wondering the same thing. Homes for sale in our Village. (Bridgeport at Laurel Valley) have sold quickly and for much more than they were purchased for.

Sometimes I think that outside realtors who can't sell the new homes are jealous of the Village realtors. I haven't heard or seen any drop in prices.

Looking at the sales data from the Sumter Property Appraiser through the end of November certainly doesn't support a reported drop in sale prices.

Looking strictly at homes that sold after 1/1/23 and were again re-sold in 2024, the average price increase was over 18%. True, this is a decline from the wild increases we were seeing before 2023, but if you can re-sell your home after a year and make 18%, I'd say you're doing pretty well.

[tophcfa]

I am wondering the same thing. Homes for sale in our Village. (Bridgeport at Laurel Valley) have sold quickly and for much more than they were purchased for.

Apples to oranges within the Villages. You live in a premium Village in the northern golfing mecca part of the Bubble where everything is built out, mature, and golf cart accessible. The supply of those types of homes is very limited compared to the thousands of homes being mass built in the relative golfing desert, where limited infrastructure is built out and golf cart accessible. Then there is the whole bond thing in the newer areas versus the little to no outstanding bond balance in the northern areas.

[Stu from NYC]

I am wondering the same thing. Homes for sale in our Village. (Bridgeport at Laurel Valley) have sold quickly and for much more than they were purchased for.

Sometimes I think that outside realtors who can't sell the new homes are jealous of the Village realtors. I haven't heard or seen any drop in prices.

They have dropped in past year since interest rates went up. Having said that we are here 5 years and our house worth substantially more than we paid for it.

It does not matter that much as we have no intention of leaving this great place.

[BrianL99]

I am wondering the same thing. Homes for sale in our Village. (Bridgeport at Laurel Valley) have sold quickly and for much more than they were purchased for.

Sometimes I think that outside realtors who can't sell the new homes are jealous of the Village realtors. I haven't heard or seen any drop in prices.

I have lived in my home in TV since purchasing it in 2016. Nothing less than the value going up each year and more than doubling the purchase price. Just stay away from Condos

Looking at the sales data from the Sumter Property Appraiser through the end of November certainly doesn't support a reported drop in sale prices.

Looking strictly at homes that sold after 1/1/23 and were again re-sold in 2024, the average price increase was over 18%. True, this is a decline from the wild increases we were seeing before 2023, but if you can re-sell your home after a year and make 18%, I'd say you're doing pretty well.

Both Zillow & Redfin estimate resale homes in The Villages have declined in Selling Price, between 12-15% since the peak 3 years ago. In a huge % of cases, Zillow won't provide a Zestimate of current value, because of a lack of sales data and the volatility of the market.

If your home selling price depreciated by 15% in the last 2.5 years, when you add in a 5% Broker's Commission to sell it, you just lost 20% of your value.

[village dreamer]

lets see.... i paid 250k for my house ,10 years ago. and now its worth 500k , but i lost 20%.??? if i keep losing 20% like this ill be a millionaire.

[Altavia]

Our lifestyle tour realtor said that price declines elsewhere in Florida don't significantly impact the home values in The Villages. What has been your experience?


Florida Housing Market Facing 'Widespread Price Declines' - Newsweek (https://tinyurl.com/FLwidespread)

The Villages is a different animal, Zillow and Redfin data is garbage given most sales are not MLS.

Historicaly, prices have risen proportional to new home prices. There is often 20+ people competing for premium lots on the new areas near Eastport.

https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/villages-q3-market-update-354295/

[Ash Marwah]

Our lifestyle tour realtor said that price declines elsewhere in Florida don't significantly impact the home values in The Villages. What has been your experience?


Florida Housing Market Facing 'Widespread Price Declines' - Newsweek (https://tinyurl.com/FLwidespread)
High-rise condos are declining fast because of the exorbitant HOA fees. Homes in West Palm Beach, which used to sell in 1 day are not selling even in 3 months.
Price Declines' are happening all over Florida. Migration to Florida from other states has dropped to 64,000 in 2024 after 322,000 in 2022 and 185,000 in 2023. Immigrants are still moving into Florida, 411,000 moved to Florida in 2024. But I don't know if these immigrants have the buying power to buy houses in Florida.

[Cuervo]

When judging price fluctuations on houses there are many factors to consider, and some are out of the control of the homeowner.
One of the main things that comes into play are you buying a house as an investment or as a home to live in.
The main difference is buying as an investment you are more aware of the market, when purchasing as a home you do not pay attention to the market as much since you are more committed for the long term.
A good example is to watch a movie titled The Big Short, it will give you a perspective of a home or a house.
I lived here 14 years, and the value of my home is about double, if I had bought this as an investment I would have not kept if 14 years and would been more a tuned year by year of the value.
The Village is different than most communities in what it offers which makes the ups and down of the housing market not compatible to the rest of the country. As long as there is a segment of the population interest in what The Villages is offering there will be more stability.

[elle123]

A house is worth what a buyer is willing to pay.

[rsmurano]

This is a fallacy! I have friends trying to buy new homes in the new section and they are placed is lottery with over a hundred other people vying for the same piece of property, spec home or lot to build on. I thought I heard 1 of them say the villages increased the cost of new homes x% early last year. So if you have this demand for new homes, why would TV lower the prices? They haven’t.
As for existing home prices, location location location. In the northern part, prices are soft according to the quarterly report. As for the southern part, not at all.
I have friends selling their 3 year old home for over 50% of the purchase price. I know of a house they are asking for 100% gain in 4 years but it is in a terrible location and hasn’t sold. So if this homeowner drops his price 15% does Zillow claim the sky is falling? In my mind, it was listed too high to begin with.
My buddy just built a new home in the new section that resembles ours for double the price we paid for ours 3.5 years ago, and we have major upgrades. So I would ask close to what my buddy paid for his for mine if I were to sell. TV real estate people claim used homes go for more money than new homes.

[Bill14564]

lets see.... i paid 250k for my house ,10 years ago. and now its worth 500k , but i lost 20%.??? if i keep losing 20% like this ill be a millionaire.

That's one way to think of it. Here's another...

You don't have that $250K in your pocket to spend, it's tied up in the value of your house. It doesn't put food on your table or get you on another cruise. All that $250K does is cost you additional money in your property taxes at the end of the year. You haven't put a penny into the bank but you are now taking $2,500 more out of the bank every year.

But you can sell your home and then you'll have the $250K in your pocket! Yes, but how many nights in a hotel will that buy? You no longer have a house to live in and you'll have to sleep somewhere. If you take the money and buy another house will you get twice the house you once purchased for $250K or will you find that you can afford exactly the same amount of house as you did 10 years ago?

The home you live in is not an investment unless you can truly do without it when you sell. I cannot, I need a roof over my head, the home I live in is a necessity, not an investment.

EDIT: I suppose where this is not true, where a home *can* be an investment, is if you purchase a new home in the Villages. After the sale you live in it, add upgrades to it, finish it, furnish it, put in landscaping, and then sell it after a year. There is probably some real profit to be made there.

[Ignatz]

This is a fallacy! I have friends trying to buy new homes in the new section and they are placed is lottery with over a hundred other people vying for the same piece of property, spec home or lot to build on. I thought I heard 1 of them say the villages increased the cost of new homes x% early last year. So if you have this demand for new homes, why would TV lower the prices? They haven’t.
As for existing home prices, location location location. In the northern part, prices are soft according to the quarterly report. As for the southern part, not at all.
I have friends selling their 3 year old home for over 50% of the purchase price. I know of a house they are asking for 100% gain in 4 years but it is in a terrible location and hasn’t sold. So if this homeowner drops his price 15% does Zillow claim the sky is falling? In my mind, it was listed too high to begin with.
My buddy just built a new home in the new section that resembles ours for double the price we paid for ours 3.5 years ago, and we have major upgrades. So I would ask close to what my buddy paid for his for mine if I were to sell. TV real estate people claim used homes go for more money than new homes.

So nice to see some common sense on one of these threads!

TV houses are NOT the same as the average 3BR/2B house in the outlying areas.

People from all over the map are not clamoring for DR Horton type tract housing as they are the TV lifestyle.

If we listed our home for 15% less than we bought it for last year, we'd probably have a line of people helping us pack so they can get into it!

[G.R.I.T.S.]

Are you referring to the condos at Spanish Springs, Glenview or Tierra Del Sol? I don’t think TV has built condos in the last 20 years, but I may be wrong.

[ThirdOfFive]

Our lifestyle tour realtor said that price declines elsewhere in Florida don't significantly impact the home values in The Villages. What has been your experience?


Florida Housing Market Facing 'Widespread Price Declines' - Newsweek (https://tinyurl.com/FLwidespread)
All depends, I suppose, on how one defines "significantly".

[jojoturf]

2-yr old homes in our Village are selling between 30-40% higher than the purchase price and in the market for a short period of time. Location, location, location, I think, is a key driver!

[MikeN]

We put our home on the market three months ago, a three bedroom, two bath, three car garage with the largest and most private corner lot veranda at almost $50k more than where it is today either ZERO interest as a resale. We are in competition with the developer who continually floods the market with half million dollar fixer uppers that is impossible to compete with. No one has considered all the improvements one will find in a newer resale. Doubt this response will be published

[Bay Kid]

I love my current home and I'm not worried about the value. I loved my last home in The Villages and it rewarded me with a nice profit.

[villager7591]

Be aware: it is difficult to analyze. When new homes are purchased, they are relatively "bare," meaning, not many upgrades, if any. For example, if you want custom landscape, palm trees, solar tubes, generator, a pool, plantation shutters, customize driveway/garage, glassed in lanai, etc. I've heard a typical Villager puts $50K in upgrades in his/her house. Our first house, we put much, much more than $50K. So often it is hard to analyze because the house a homeowner is selling is much different than when he/she purchased.

[vintageogauge]

Only 20%--25% decline over the last 2 years. Not bad.

I haven't seen that at all. We recently sold our home and had been contemplating selling for the last 2 years. I watched monthly for those 2 years at comparable homes and they continually increased in value and it sold within 3% of my calculated asking price and was sold to the second family that made an appointment to see it. That being said, our home was a model that there are very few available at any given time and it was on a premium lot. Other more common models on inside lots with no view, water, or golf course might be a different story.

[ithos]

Our lifestyle tour realtor said that price declines elsewhere in Florida don't significantly impact the home values in The Villages. What has been your experience?


Florida Housing Market Facing 'Widespread Price Declines' - Newsweek (https://tinyurl.com/FLwidespread)

I believe this to be true because the decrease in home values in Florida has been primarily due to the skyrocketing insurance rates caused by the recent hurricanes. Also many high rise condos near the beaches face mandatory remediation due to long term neglect.

Since The Villages has suffered very little damage from the weather, the rates of insurance have risen only modestly in line with the overall rate of inflation.

[Switter]

Our lifestyle tour realtor said that price declines elsewhere in Florida don't significantly impact the home values in The Villages. What has been your experience?


Florida Housing Market Facing 'Widespread Price Declines' - Newsweek (https://tinyurl.com/FLwidespread)


There are a lot of dynamics that go into the price of housing as of late, especially in Florida and the villages specifically since it is a retirement community and people move here for a very specific reason.

I don't think anyone can accurately predict where the housing market is going from here. It was ridiculously inflationary over the last handful of years and a correction is likely due at some point. To add to the uncertainty, the trend over the last couple decade towards viewing single-family housing as primarily an investment versus a place to live has made an even bigger mess of the market, i.e. housing crash of 2008 and the inflation over the last decade.

I probably overpaid a little for the place I bought a year and a half ago. However, I didn't overextend myself and in the end I'm satisfied with my purchase.

[MandoMan]

Our lifestyle tour realtor said that price declines elsewhere in Florida don't significantly impact the home values in The Villages. What has been your experience?


Florida Housing Market Facing 'Widespread Price Declines' - Newsweek (https://tinyurl.com/FLwidespread)

As the article you attached says, “The typical value of a home in Florida went up by roughly 60 percent over the past five years, according to data from Reventure App. In November 2019, the typical value of a home in the Sunshine State was $243,000; in November 2024, it was $389,000. At the same time, mortgage rates went up from 3.7 percent to 6.8 percent.”

I’d say that in The Villages, home prices went up much more than was to be expected for a couple years. When mortgage rates climbed, homes kept selling, but they took longer to sell, though sales prices haven’t dropped much. They have mostly stayed steady or climbed slower. I know that when I bought my first house here almost five years ago, my mortgage was 3.5%. At 6.8%, I wouldn’t have been buying a home. Someone is buying, though.

My first home here, 1600 sq ft with pool and on a golf course, I sold two years later and made $85,000 on it (before fees, which were a lot). I bought a 1200 courtyard Villa and was able to pay cash. I’m glad I made that profit on the first house, but it was just luck, really. At present, I would lose money on my current house after my improvements. I don’t think careful people buying here are likely to have to sell for less than they paid, but their home values are not likely to shoot up in the next few years the way mine did. Living here is worth it, though.

[biker1]

No. My home owner's policy has doubled in 10 years, which equates to about 7% per year and is much higher than the rate of inflation.

I believe this to be true because the decrease in home values in Florida has been primarily due to the skyrocketing insurance rates caused by the recent hurricanes. Also many high rise condos near the beaches face mandatory remediation due to long term neglect.

Since The Villages has suffered very little damage from the weather, the rates of insurance have risen only modestly in line with the overall rate of inflation.

[Bill14564]

No. My home owner's policy has doubled in 10 years, which equates to about 7% per year and is much higher than the rate of inflation.

For mine, the increase from 2022 to 2023 was much greater than inflation.

[Switter]

No. My home owner's policy has doubled in 10 years, which equates to about 7% per year and is much higher than the rate of inflation.

I wonder how much of this in, even in the villages with its relative safety from hurricanes, also has to do with the cost of repairs/replacement going up due to inflation. I'm pretty sure they factored those costs into the price of insurance.

[BrianL99]

The Villages is a different animal, Zillow and Redfin data is garbage given most sales are not MLS.

Historicaly, prices have risen proportional to new home prices. There is often 20+ people competing for premium lots on the new areas near Eastport.

https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/villages-q3-market-update-354295/

Zillow is the largest real estate database in the United States. It does not rely on "MLS" for data, but tracks real estate transactions from multiple sources, including Registry of Deeds activity.

On the other hand, The Villages Realty produces its own data, which represents somewhere between 40%-60% of the pre-owned sales in TV.

Zillow, Trulia (owned by Zillow) & RedFin all show a significant decrease in pre-owned home prices in TV, over the 2.5 years.

Any real estate salesperson who's telling potential buyers that prices don't go down in TV or any other area, should lose their license.

[Topspinmo]

What I have noticed in my area resale houses aren’t selling very quickly. I think this due to decline in market and competition with all new homes being built. Also some are way over priced which pretty much alienates them to just set there. I also see decline in activity people looking at houses that are for sale and even on open house days. Now go back year and half ago they rarely lasted over month.

[goneil2024]

The challenge a buyer faces when considering the purchase of a single-family home in the Villages is that (most buyers) do not have the time, facts, and experience to perform an informed financial analysis of the transaction or prospective purchase.

We as a group are at the mercy of many sources of information some objective, and others for the most part bias. However, as someone that bought, sold and built five homes as time goes on the priorities have shifted. I observed the number of new and pre-owned homes in TV and it's clear that the developer (VLS) is able to restrict supply of new homes to maintain their profit margin or flood the market if they want given their financial leverage. The remaining open market is likely a better indicator of the trend which by all counts (MLS) shows 2X the number of listings on a YOY basis, and the listing time to sale time has increased by at least 50%.

For many of us we are in or moving into retirement/a new chapter of life, I suggest that it might be better to consider a home purchase in TV as "consumption" of our accumulated assets, e.g., "decumulation". Are we really going to be here in 20-yr to resell that home? [sure, I understand that many folks move 2x-3x] However, I suggest we focus on our ability to buy based on economic situation and what that purchase would mean to us based on our wants, needs and desires as the buyer.

So what if the value goes up 20% in 5-yr, or drops down 20% in the same timeframe, we as the owner were able to consume and enjoy TV lifestyle, isn't that the point? When it's all said and done, we can't take it with us, and for those that remain the time spent with them in a place we enjoy might far exceed and economic benefit.

[Normal]

Zillow is the largest real estate database in the United States. It does not rely on "MLS" for data, but tracks real estate transactions from multiple sources, including Registry of Deeds activity.

On the other hand, The Villages Realty produces its own data, which represents somewhere between 40%-60% of the pre-owned sales in TV.

Zillow, Trulia (owned by Zillow) & RedFin all show a significant decrease in pre-owned home prices in TV, over the 2.5 years.

Any real estate salesperson who's telling potential buyers that prices don't go down in TV or any other area, should lose their license.

Zillow displays 636 MLS homes for sale inside the villages today. 6 months ago that number was 498 listings.Inventory is becoming massive in size and should drive prices down further. Not to mention the interest rates are up. That’s a 28% increase and doesn’t even include new construction or the areas south east of the Sumter line. There is some shadowing coming to play in the new areas as well.

[LianneMigiano]

The drop some are talking about occurred in Spring/Summer of 2022. We had three courtyard villas in our neighborhood of 110 villas sell for over $500,000 between MAR 15 and JUN 2022!!!! All sales in our neighborhood since that time have been $230K, $287K, $290K, $305K, $312K, $340K, $342K, and $345K. Something quirky happened in Spring/Summer of 2022 that has flattened out since that time.

[Birdrm]

I would say that prices in TV probably will not drop to the level of those around the coast because of the issues of obtaining insurance and the increasing market that drives down prices. In TV there is always a decent number of homes available but the prices have not drop significantly.

[Byte1]

Yes, prices for pre-owned homes HAS gone down in the past 8 months. Probably the first time in decades.

[ithos]

No. My home owner's policy has doubled in 10 years, which equates to about 7% per year and is much higher than the rate of inflation.

If your home was on the coast the insurance would be far greater. No talk of homeowners going "naked" around here.

Some homeowners are going '''naked''' without insurance in states where it'''s too expensive (https://www.yahoo.com/news/homeowners-going-naked-without-insurance-150439053.html)

[sallyg]

In our experience prices have steadily increased over about 9 years. Some model homes may appreciate more than others, just as some neighborhoods may be more desirable. But that's true anywhere.

[ronda]

There are a lot of dynamics that go into the price of housing as of late, especially in Florida and the villages specifically since it is a retirement community and people move here for a very specific reason.

I don't think anyone can accurately predict where the housing market is going from here. It was ridiculously inflationary over the last handful of years and a correction is likely due at some point. To add to the uncertainty, the trend over the last couple decade towards viewing single-family housing as primarily an investment versus a place to live has made an even bigger mess of the market, i.e. housing crash of 2008 and the inflation over the last decade.

I probably overpaid a little for the place I bought a year and a half ago. However, I didn't overextend myself and in the end I'm satisfied with my purchase.

Good News for you: In TV it seems like the market over time only goes up. So you may have bought at the peak, but 5 years from now, you will be happy you pulled the trigger and paid what you did. :clap2:

[J1ceasar]

Having lived in Central Florida 27 years I can tell you gas prices go up and down but like the title says duz it really matter?

Over the course of these years my house went from 300,000 to 100,000 to $300,000 etc.

If you look at it this way, seniors are always going to be retiring and wanting to get out of the cold weather so there will always be someone looking to buy your house down the road.

Prices in the village area are affected by the fact of how many houses , developer wants to put up as new, the mortgage rates and whether or not we have just had two hurricanes in the world the people don't want to come down to buy a house that month.

Your reality is affected by whether or not you think you will need to Sell within two or three years of buying due to health issues or moving back home to be with the grandkids.

People down here make a game of buying and selling just like Monopoly because I want to be in a new section or an old section or smaller or bigger or on the lake or by the golf course.

Over these years prices have general risen

[Switter]

Good News for you: In TV it seems like the market over time only goes up. So you may have bought at the peak, but 5 years from now, you will be happy you pulled the trigger and paid what you did. :clap2:

Yeah, I agree with you.

[DrMack]

Yeah, I agree with you.

That isn’t what most of us in Dabney are saying. I have read what some realtors are posting and ask myself how they can even sleep at night with the positive spin they attempt to put on this market. The real estate market really bites right now in the villages.

[FredMitchell]

Prediction is hard, especially about the future.

[nn0wheremann]

Our lifestyle tour realtor said that price declines elsewhere in Florida don't significantly impact the home values in The Villages. What has been your experience?


Florida Housing Market Facing 'Widespread Price Declines' - Newsweek (https://tinyurl.com/FLwidespread)
What goes up will come down. The house next door was bought in 2005, and it’s price declined in the Great Recession in ‘08. The place sold in 2019 and the seller barely broke even. Very good recovery, by assessed valuation, since then.

[CoachKandSportsguy]

not another house pricing thread?

basically, house prices go up and down, the largest influencer is interest rates.
However all real estate is local, and so The Villages real estate market is local special to itself.

What affects the TV house prices the most?
the unique location, model and price of comparable new homes built by TV. . .

There are two types of TV buyers in general.
Those that want a preowned home.
Those that want a new home. . .

Those that want preowned, want certainty about present so that the future is less uncertain.
Those that buy new, have less need for certainty about the present, and can deal with the upgrades, the added costs and lack of immediate amenities in the newer areas . . .

Note that the developer has developed ways to sell new houses to keep the prices at the level of cost plus their profit margin, so new prices are relatively immune from resale up and down. However, when houses sell more slowly, the developer just sells fewer at a time, altering volume, not price.

Resales, all depends upon the buyers of the moment. . .
Freakonomics has a great analysis of realtor selling behavior. . . which can determine the final buyer. . .

good luck

[therefugee]

Both Zillow & Redfin estimate resale homes in The Villages have declined in Selling Price, between 12-15% since the peak 3 years ago. In a huge % of cases, Zillow won't provide a Zestimate of current value, because of a lack of sales data and the volatility of the market.

If your home selling price depreciated by 15% in the last 2.5 years, when you add in a 5% Broker's Commission to sell it, you just lost 20% of your value.

Edit: my original post was killed because it had a link to a graph

Hello all, we are closing on a home on Feb 3rd and find this interesting. Also, this is my first post!!!!!!!

As others have pointed out, the Villages is a its own bubble and not the real world. In 2008, it was largely immune from the housing crisis (my in-laws lived here then and still do). When talking about data on home prices, it is a little difficult because most homes get sold on TVs VLS and not the global MLS. VLS is TVs closed loop real estate arm and doesn't get reflected in the data pulled from MLS.

The chart depicts prices decreasing marginally since 2022. When taken in fuller context, the current prices are still above the 5-year trend line. So, for a two year period from 2020 to the peak in 2022 home prices soared 50% to $400k. I would argue they are still about 12% or so above a longer trend line. Anyhow, this marginal drawdown (I'd say normalization) on prices over the last 3 years is actually the market saying people got a lil bit crazy in 2022. Nothing systematically wrong.

Regards,

The Refugee

[Normal]

This site helps buyers know what the market is currently doing here in the Villages. It lists the selling price of every MLS home up to 1 day ago.

Pardon Our Interruption (https://www.realtor.com/realestateandhomes-search/The-Villages_FL/show-recently-sold)

If you ever use realtor.com, there is a drop down tab called “More”, just choose it and click “recently sold”.

[Moderator]

Topic of this thread is if price declines elsewhere in Florida significantly impact the home values in The Villages.

Off topic posts have been removed.

Please keep comments to the specific topic that was started. If you have another comment that is off topic, do not hijack the thread but please start a new one.

[Taltarzac725]

Location, location, location. The big three in real estate values. It really depends on where you are in the Villages. Close to shopping probably helps as well as close
to one or more of the town squares. And too close could be a problem as well.

[Bay Kid]

3 in my neighborhood just went under contract last week. Unless I am selling my value is perfect.

[ithos]

I believe this to be true because the decrease in home values in Florida has been primarily due to the skyrocketing insurance rates caused by the recent hurricanes. Also many high rise condos near the beaches face mandatory remediation due to long term neglect.

Since The Villages has suffered very little damage from the weather, the rates of insurance have risen only modestly in line with the overall rate of inflation.

Very good point. I don't understand why these alarmists never distinguish between price declines between inland and coastal properties.

[graciegirl]

The top ten commandments in the training for a Village realtor are Thou shall not say anything negative about the TV. Also, it is a Jedi mind trick these are the homes you're looking for. These issues matter twice before you buy and when you sell. Enjoy the Middle.

Nobody has to trick anyone. The Villages are still beautiful and sought after. The last three homes in our small Village of 54 homes sold quickly. Bridgeport at Laurel Valley. You can look up what they sold for easily.

[ElDiabloJoe]

Good News for you: In TV it seems like the market over time only goes up. So you may have bought at the peak, but 5 years from now, you will be happy you pulled the trigger and paid what you did. :clap2:

I agree with this. By and large, no matter when you buy, sooner is better. If you bought in 1945, your house is phenomenally more valuable now than then. If you bought at the peak before the big crash in 2007, you would be better off now than then. Prices from the very peak seem like a steal today.

Kinda like stocks. Sure, there's some volatility and some up and down roller-coaster riding to be had, but in the long run, the sooner you buy the better off you will be.
Of course, if you're a market timer, then yes - you will likely lose more than you gain over time. That's just how it has all worked over the last century or so.

[Stu from NYC]

The villages is rather a unique place and things that happen elsewhere often will not be seen here.

[Bonanza]

Location, location, location. The big three in real estate values. It really depends on where you are in the Villages. Close to shopping probably helps as well as close
to one or more of the town squares. And too close could be a problem as well.

Sorry, but "location, location, location" is NOT the big three in real estate.

The big three are Location, Price, and Condition.