Land O' Lakes Home Sales on the Rise

Land O' Lakes homes sales are up, and that has buyers and sellers moving quickly.

"This time last year, there was a year's supply of homes on the market.There is only a two-a-half month supply now. Properties priced right, especially under $200,000, will have a heavy volume of viewings immediately upon being listed," Realtor Rene Van Hout of F.R.O.G. Realty Pros said.

Many Realtors are hosting open houses the first few days after a home is listed, in order to accomodate the large number of showings, she said. Usually those properties will have multiple offers within days of going on the market.

Home sales were up 12 percent nationally in January, the highest increase since 2005, Van Hout said. 

Pasco County's statistics showed an 8 percent increase in January over the same month last year, she said.

"The average sales price increased by 5 percent to $113,831 when compared to January 2012, " Van Hout said. "The median sales prices increased by 11 percent from 2013, and market times decreased by 18 percent, or 33 days."

According to Van Hout, mortgage rates are to thank for the boom in business.

 "Mortgage rates are still incredibly low, but are starting to rise, which has buyers motivated," she said.