With the release of the latest Economic Pulse Flash Survey from the National Association of Realtors (NAR), results show that people selling their Florida houses today are holding strong on price. According to the most recent data, 74% of real estate agents noted that sellers are not dropping listing prices to attract more buyers.
Lawrence Yun, Chief Economist at NAR, noted:
“The housing market faced an inventory shortage before the pandemic. Given that there are even fewer new listings during the pandemic, home sellers are taking a calm approach and appear unwilling to lower prices to attract buyers during the temporary disruptions to the economy.”
The shortage in housing inventory has created an environment where there were not enough homes for sale for those who want to buy them. With that backdrop setting the stage, Yun also notes:
“With the current quarantine recommendations in place, fewer sellers are listing homes, which will limit buyer choices.”
So, with buyer choices already limited going into this season, and more sellers removing listings today, if you’ve been thinking about listing your Florida home, it’s a great time to do so and we can help you! There may be many people in your neighborhood waiting to make a move or removing their listings, so staying on the market – or jumping into it – could work to your advantage.
Buyers today are serious, and with prices holding steady in this low-inventory market, you can feel confident about selling your Florida home today. Due to COVID-19 the best way to enter the market is to embrace the virtual process. Hire an agent from Prestige Waterfront Realty to take a virtual 3D tour of your home. This will allow anyone across the country to virtually view and "walk" through your home therefore putting you on the top of an eager buyer’s list. Some home sellers are old school and will miss on this opportunistic time. Make sure you are NOT one of them!
Inventory is low and buyer choices are limited in your Florida neighborhood. Listing with Prestige Waterfront Realty will help your home listing rise to the top of the search. Let’s connect today to make sure you have the expert help you need to succeed in the selling process.
Thinking of buying or selling? Contact Prestige Waterfront Realty at 954-830-7000 or email us at Tegov@AskPWR.com. We are South Florida's leading real estate experts and can help your dream of homeownership a reality. www.AskPWR.com