October 1, 2020 Market Update
Sales of homes are UP. And the number of new listings are WAY DOWN.
There are less than 3 months worth of homes for sale right now. What is contributing to this?
INCREASED DEMAND
- Low interest rates
- Changes in preferences - so much time spent at home during COVID changes what we want/need
- More people moving to Florida - if you're going to work from home, why not do it in Florida???
- Continuation of Trend - Floria is a top choice for retirement
DECREASED SUPPLY
- Many seasonal / snowbird residents who plan to sell this winter are waiting to until they feel safe enough to travel - they want to be here in person to collect their personal items and meet with agents face-to-face
- Some Sellers are waiting to see results of Presidential election
- Demand has outpaced supply of new construction which slowed down due to rising prices in construction costs and labor shortages
STRONG DEMAND + LIMITED SUPPLY = SELLER'S MARKET
So if you're having thoughts of selling, it's important to get on the market SOON, before everyone else does... it will help to alleviate some of the inventory problems we have AND it will help you to sell for the full amount of your home's value.
Click here for a FREE HOME VALUATION from Stacey Glenn - no pressure, confidential, fast & easy.