Real Estate Update End of Summer 2025 Citrus County (Ridge area)

Escaped the heat for a few weeks in Michigan and Ohio thought on my return blog I would give you a real estate update. Real estate continues to be slow…but NAR finance expert YUM predicts we will not have the real estate recession we had in the early 2000’s because mortgage financing has changed. Watch his 1 minute video on the link below. Two articles concur the average 30-year mortgage rate dipped to the lowest rate in months as markets increasingly expect a Federal Reserve rate cut in September.

Black Diamond had one closing in July and one in August (about one less sale than last year at this time) and have 24 home sales for the year so far. Terra Vista and Pine Ridge numbers look like they have had numerous more sales, but those communities are larger than the approximate 540 homes in BD. (Pine Ridge 3206+ and Terra Visa (1108+). See MLS Links below. Back Diamond has about 13 homes on the market now, with 5 of them priced close to or more than a million dollars in price.

NAR YUM predicts:

https://www.nar.realtor/blogs/economists-outlook/ask-the-economist-will-an-increase-in-unqualified-buyers-making-larger-down-payments-drive-up-home?utm_term=C7E125CD-8644-45D2-A0C7-278EBC5B3923&lrh=bb4273027dc6f2dca7547ae0e98dc608f5baebec769c9767a4bd21b7e6868ad5&utm_campaign=3BFA9068-DFBC-477B-BC94-C168B9A999F1&nwsltr=navnar&utm_content=F0887A53-DF67-4C5B-B878-E3FD67CC57E3

Mortgage related articles from FAR…

Mortgage Rates Fall on Fed Cut Speculation | Florida Realtors

Mortgage Rates Fall to Lowest Average in Nearly a Year

Black Diamond sold so far this year (24)…

https://portal.onehome.com/en-US/properties/list?token=eyJPU04iOiJDSVRSVVMiLCJhZ2VudGlkIjoiMzU4MSIsInNldGlkIjogIjEwMTI1ODciLCJzZXRUeXBlIjogIlBST1BFUlRZIiwic2F2ZWRTZWFyY2hJZCI6ICJiNTI0ZTMzMy1kNDRhLTNmMjktOWU4Yy1hZmYzZGU2NDFjMzAiLCJlbWFpbCI6ICIiLCAiVmlld01vZGUiOiAiMyJ9&searchId=b524e333-d44a-3f29-9e8c-aff3de641c30

BD for sale now: (13)

https://portal.onehome.com/en-US/share/1012629W82383

Terra Vista Sold ( 64 sold this year but I can not create link of more than 50) so the list is the recent sales)

https://portal.onehome.com/en-US/properties/list?token=eyJPU04iOiJDSVRSVVMiLCJhZ2VudGlkIjoiMzU4MSIsInNldGlkIjogIjEwMTI1OTMiLCJzZXRUeXBlIjogIlBST1BFUlRZIiwic2F2ZWRTZWFyY2hJZCI6ICI5ODIwOWY2OS1iZTMyLTMyMDEtYmI3MS0yMmYyZTRlZjQ2YzgiLCJlbWFpbCI6ICIiLCAiVmlld01vZGUiOiAiMyJ9&searchId=98209f69-be32-3201-bb71-22f2e4ef46c8

TV for sale: