Things you need to know about a sellers market. What is a sellers market? Currently its a strong sellers market and still hot in Florida. A sellers market is when the inventory supply of homes is low and demand to buy homes is high, in turn the seller can almost put almost any number the price to sell their home because of high demand due to inflation in the economy. So when you decide to sell your home, other home sales drive the asking price of your home up with huge appreciation.
Bidding wars are still out there, at least five offers per home. Homeowners who are seriously thinking of selling their homes, now is the time to cash in. Generally the first few days on the market expect a home to have at least ten to fifteen contract's. During the first year of the pandemic, sixty percent of sales were cash buyers paying well over asking price. It is a fierce housing market. Please contact me today for a free price quote and market analysis on your home.
Many want to sell because of huge profits to capitalize and put profits into a bigger home with changing needs for example a gym or office space that you can exercise and work from home. You may want upgraded features such as a smart home, 3 car garage, tile, hardwood floors, chef kitchen and or outdoor kitchen with enclosed swimming pool.
(FOMO) What also is driving sale prices sky high is that as interest rates are continually on the rise buyers and sellers do not want to miss out on a sale. Not as sure what the future holds and how long this will last. However my gut tells me the first quarter of 2023 this may calm down after the few spikes in the interest rate. As rates rise, to keep a stable monthly payment, many race to make home purchases and sales to avoid the rental race and unknown. If you are thinking about cashing out, this is the time to sell and capitalize on this ongoing home appreciation market.
Currently 2022 looks like it will end up very strong overall in the nation and a cooling point will bring the storm to a calm. As per the National Association of Realtors, the forbearances that has started in mid 2020 kept many families in their homes unlike the 2005 market crash that had many short sales and foreclosures. over 100 economist surveyed 2022 appreciate 9%, 2023 4.7%, 2024 3.67%, 2025 3.41% and 2026 3.57%. It's necessary to contact a real estate professional today that stays on the pulse of the housing market to guide you through this turbulent market. Trust your local home advisor Kevin Strawter at 850 496-6412 or email firstname.lastname@example.org to steer you in the right direction.