Six reasons why it’s still the best time to sell your propertyAugust 25, 2021
There is a lot of talk about the current market for luxury properties. We can confirm, right now, sellers are in the best position to capitalize on buyer interest.
Those still on the fence about selling need only look at the numbers to make their decision.
It’s a seller’s market
Home prices are increasing:
The statewide median sales price for single-family existing homes went up 14.4% from the previous year.
Homes aren’t sitting, they are selling:
At the end of 2020, closed sales of single-family homes statewide were up 21% year-over-year while existing condo-townhouse sales were up 27.7% over
Favorable interest rates:
The interest rate for a 30-year fixed-rate mortgage averaged 2.68% in December 2020, significantly lower than the 3.72% average during the same month a year earlier, according to Freddie Mac.
Fewer days on market:
Nationwide, the average days on the market dropped by 11% compared to December 2019. The nationwide average is 76 days, and even lower in South Florida.
As of December 2020, there was only a 1.8-month supply of single-family existing homes in Florida. For condos and townhouses, there was a 4.2-month supply.
Across the country in December 2020, home showings were up 63.5% over the prior year. In the South, the number was even more impressive, with showings
The bottom line
You want to be sure your selling strategy is in tune with today’s developments, not yesterday’s headlines.
We can help you confidently navigate all of the specifics, from correct listing price to final closing details.
Reach out to us today to get started.