The latest information you need to know about our South Florida market.
We monitor our real estate market daily, just like stock brokers monitor the stock market. Our housing market has been going through many ups and downs lately. Homes in our area are taking longer to go under contract,
but our listings are finding success because we’ve priced them accurately.
However, plenty of other listings are lowering their prices because sellers are pricing at the elevated levels that we saw a few months ago and not being realistic about their value in the present market. If sellers cannot get their homes under contract within a reasonable amount of time (one to three weeks), they have to decrease their price. We’ve also seen inventory levels rise as the number of days on market grows. Inventory has significantly improved in markets across the board, which can also hugely impact how sellers price their properties to stay ahead of the market.
"Our housing market has been going through many ups and downs lately."
If you’re considering selling, now is the time. The market has ceased to shift upward and is either flattening or turning downward somewhat. As interest rates continue to escalate, more buyers will have trouble getting financing, so you’re still in a
great position to acquire a qualified buyer before they have to leave the market. It’s also a good time to buy because your money will go further now than it will down the road.
With interest rates climbing, your purchasing power will decrease.
If you have any questions or specific topics you’d like us to cover in a future blog, please reach out via phone or email. We’d love to connect with you and provide valuable information.