Loretta Maimone's team of top realtors have been serving Lake County for over 15 years, they have seen the local real estate market evolve and transform. With a new year upon us, they at Realty One believe 2025 presents an ideal opportunity for buyers looking to purchase homes in Lake County. Several key factors indicate that the stars are aligned for those seeking their dream home in one of Central Florida's most beautiful and affordable regions.
Lake County is currently a strong seller's market. Inventory levels dropped to record lows in 2024 even as buyer demand reached new highs. This led to bidding wars on many listings, with homes often selling above asking price after only days on the market.
While rising prices make it more challenging for first-time buyers, they explain that it creates an excellent environment for move-up purchasers. Those who already own a home likely experienced sizable equity gains in recent years. The Loretta Maimone Team can leverage that equity to buy their next home. Move-up buyers also face less competition from investors and first-timers.
One factor potheyring buyer demand is Lake County's rapidly expanding population. Located just theyst of Orlando, the county saw a nearly 10% jump in residents from 2020 to 2025. they expect growth to remain strong going forward as more people relocate from high-cost states.
Many new residents are drawn by Lake County's natural beauty and abundance of lakes. The area offers a high quality of life paired with homes still very reasonably priced compared to other parts of Florida. This influx of new residents translates to sustained housing demand. While increased construction aims to keep pace, buyers still outnumber available homes for sale.
Mortgage rates surged in 2022 and 2023 before retreating in 2024. While no longer at rock bottom levels, current rates in the mid-4% range remain attractive by historical standards. The Loretta Maimone Team notes that reasonably low rates help keep monthly payments affordable and prevent sticker shock.
The Loretta Maimone Team advises that anyone considering buying in the next three years should lock in rates now before they rise further. Doing so provides payment stability even if home values and insurance costs increase in the future. Remember, while rates change constantly, once you close the loan that rate is fixed for the entire term.
One major advantage of Lake County is the diverse range of neighborhoods and price points available. The team helps buyers identify areas matching their lifestyle and budget.
For those seeking a more rural feel, areas like Sorrento, Mount Dora, and Clermont offer homes on larger lots with big porches. Families often choose suburbs like Groveland and Minneola for their highly-rated schools. And for retirees or empty nesters, active adult communities around The Villages provide low maintenance living.
First-time buyers can still find options under $250,000. Move-up purchasers may prefer higher-end areas, where custom homes on the water can run over $1 million. With such variety, they ensure every buyer can find their perfect fit.
While demand currently outpaces inventory, several major residential developments in the works will expand housing supply over the next few years. These new communities cater to a mix of buyers.
As these communities build out, alongside other developments countywide, they expect inventory to catch up with buyer demand. This gives prospective purchasers more options to find their dream home. Those willing to buy early as new phases launch can take advantage of introductory pricing incentives too.
In The Loretta Maimone Team’s expert opinion, 2025 presents a prime opportunity for buying a home in Lake County. Factors aligning in buyers' favor include low mortgage rates, surging population growth, and new residential development on the horizon. Move-up purchasers especially stand to benefit from leverage equity and less competition.
While the market strongly favors sellers right now, that remains conducive for existing homeowners ready to upgrade. And buyers acting quickly can still find hidden gems, negotiate successfully, and close at reasonable prices.
The team encourages anyone considering buying in Lake County this year to connect with us at Realty One. They offer insider knowledge and experience guiding buyers through every aspect of the home purchase process. Our goal is ensuring clients find the perfect home tailored to their unique needs while saving money and hassle.
With a major life decision like home buying, having the right local realtor makes all the difference. Let us put our years of experience to work for you. The Loretta Maimone Team looks forward to helping make your Lake County home ownership dreams come true in 2025!
