Some HighlightsWondering why the supply of homes for sale is limited today? There are a few factors at play.Lack of building over time, the mortgage rate lock-in
Should I sell now... before the market crashes?
Dated: September 27 2022
Views: 157
Some people are still waiting for the market to crash.
While we cannot speak for what the rest of the country, we can say that we are seeing no evidence of the market crashing here in Florida, much less here in southern Florida nor on the Treasure Coast.
We are. however, seeing evidence that remote work is driving people to Florida by the boatload. Median home values across the state are up 33% compared to this time last year. Compare that to median home values nationwide at up by 18%.
While rising home values are deterring some seniors from making the move to Florida, the ability to work remote is driving those aged below 65 to make the move sooner. In some areas, elementary and high schools are at capacity. Many have waiting lists for those coveted spaces.
In addition, homeowners moving from California and from the northeast are coming from high cost of living areas. They can sell their multi-million dollar homes and come down to Florida and buy a 500k home for cash.
Combine that with homeowners that have purchased or refinanced in the last 2 years are holding on to their low interest rate mortgages, which will continue to affect inventory as long as rates remain high to combat inflation. And when Wall Street is a gamble, investors hedge their funds by investing more heavily in real estate.
We touched on all those points and statistics to say - we don't see a crash on the horizon. We are STILL in a seller's market, despite rising interest rates and price reductions.
If you choose to sell, make sure you are working with a REALTOR® that is familiar with current market statistics (we post these monthly ๐). The last thing you want to do is hire an agent that promises the moon to get the listing, but can't deliver.
If you would like to know what you could sell your home for in today's market, please don't hesitate to send us a DM. We are happy to help - no strings attached.
๐๐๐ฑ๐ญ๐๐จ๐ฆ๐ ๐๐ซ๐๐๐ฌ๐ฎ๐ซ๐ ๐๐จ๐๐ฌ๐ญ
๐๐ญ๐ฎ๐๐ซ๐ญ & ๐
๐ญ. ๐๐ข๐๐ซ๐๐ ๐๐๐๐ข๐๐๐ฌ
๐๐๐.๐๐๐.๐๐๐๐
Jessica Cazabat
Hey, Friends! ย I am a licensed Realtorยฎ and the Director of Social Media & Digital Marketing at NextHome Treasure Coast. I also hold my ePro, Pricing Strategy Advisor, and At Home with Di....
Latest Blog Posts
Some HighlightsHolding off on selling your house because you believe there aren’t any buyers out there?Data shows buyers are still active, even with higher mortgage rates.
Are you a baby boomer who’s lived in your current house for a long time and you’re ready for a change? If you’re thinking about selling your house, you have a lot to consider.
Beaches MLS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
The data relating to real estate for sale/lease on this web site come in part from a cooperative data exchange program of the multiple listing service (MLS) in which this real estate firm (Broker) participates. The data is provided exclusively for the user's personal non-commercial use, and may not be used for any purpose other than to identify properties that the user may be interested in purchasing or leasing. The properties displayed may not be all of the properties in the MLS's database, or all
