I hope you had a great Independence Day! Comparing the current real estate market to last year’s numbers and the year before provides important data if you're thinking of buying or selling real estate. Focusing on the State of Florida for single-family homes... Let’s take a look…
The graph below displays the active inventory of single family homes in Florida in blue over the last two years. The cyclical effect on closed sales each year for the state in green is obvious with peak sales typically in May. In the last year, Florida single family home inventory has risen from 60,000 to over 94,000 units.
Still, as active inventory rises, you can see in this next example, so has the median sale price of homes. That means we have a very healthy market in Florida and with a 4.4 months supply of inventory overall, sellers are still at an advantage and may be for some time.
The trends in real estate continue to point toward a more balanced and healthy market. It's a great opportunity if you want to buy or sell. Remember, your home is much more than just a monetary investment. It's the place you call home.
There are 100 ways to increase your home's value if you're thinking of selling. Ask me for the eight deadly mistakes homeowners make. See what your home would likely sell for today by requesting a Relevant Property Market Analysis.
It's been quite some time since we last witnessed what's considered a “balanced real estate market.” In fact, according to statistics from floridarealtors.org, Florida’s last balanced market was in 2011! Check out the free guides available on Selling For More, Relocating, and How to Seamlessly Sell One Home and Buy Another at monaleonard.com/selling.
Large amounts of pent-up equity might be causing more homeowners to cash out and search for a new home. Upsizing, Downsizing, relocating, or even moving to assisted living means more home-buying options. With more homes coming on the market, conditions are better than they've been in a long time for both sellers and buyers.
Reach out for a Relevant Property Market Analysis to determine the accurate value of your home. It’s the most important information to consider when selling or buying, or schedule a customized free consultation to catch up on what's happening in your local market.