Greater Seminole County Real Estate Report 3-3-21: January’s numbers indicate now is the time to buy and sell your home, but do you really need two separate realtors for each transaction?
Even though we began 2021 still navigating the ongoing pandemic, Florida’s real estate market is off to a strong start! It’s an excellent time for both buyers and sellers to throw their hats in the real estate ring. Hopefully, this a positive sign for the rest of the year. In this week’s newsletter, we will recap January’s numbers and discuss whether you need one or two Realtors when buying and selling your home at the same time!
A Month in Review: January’s Numbers
Compared to a year ago, January 2021 saw the following:
- Single-family homes – 21,587 are the total number of homes sold which is an 18% increase. The median sales price is $305,000, for an increase of 15.1%. New pending sales rose 16.9%.
- Condo/townhomes – 9,608 are the total number of homes sold which is a 24.6% increase. The median sales price is $230,000 for an increase of 15%. New pending sales rose 32%.
Shortages and Mortgage Rates, Oh My!
The first month of the year saw a shortage of housing inventory, especially in the lower and mid-price ranges. However, average mortgage rates are at an all-time low of 2.75%.
High buyer demand combined with a shortage of inventory is the perfect recipe for those who are ready to sell their home. Sellers are most likely to get top-dollar for their property in these market conditions. On the other hand, historically low mortgage rates also make this a great time to purchase the home of your dreams.
Should You Use the Same Realtor to Buy and Sell?
If possible, it is advantageous to use the same Realtor for both transactions. However, you should only do so when you can find a Realtor who is experienced and can offer you a high-quality experience with both transactions.
What are the Benefits?
There is a myriad of benefits to using one Realtor to buy and sell your home, including:
- No need to worry about the stress and hassle of having to coordinate with two different agents
- It will be easier to coordinate closings to happen simultaneously if need be.
- Negotiations will go better since one agent is familiar with your needs in both transactions.
- It is easier to find one person you trust instead of two.
- It is more convenient to only have one agent to work with, freeing up your time for other things.
Ready to Get Started?
Whether you are ready to begin your home buying or selling journey (or both), Gitta Sells is here. With over 30 years of experience in the Central Florida real estate industry, it’s no wonder she and her team are the most trusted Lake Mary realtors. Please feel free to reach out with any questions you may have at gittasells@gitta.com or 407-330-2181. Until next week, stay safe!
