If you are looking to sell your home! Now is the time! July brought good news for the Florida real estate market! With an increase in the price of homes sold, now is the time to get the highest price possible for your home!
Analysis of the Florida Real Estate Market: Closed Sales, Pending Sales, and Median Prices are Up in July 2019
The real estate market is ever-changing, and July is no exception. This past month meant great news for the real estate industry! July brought an upswing for the Florida real estate market. Highlights include:
- Home prices increased
- The number of closed sales increased
- Median prices increased
What Does This Mean for Florida’s Real Estate Market?
This is good news for Florida as a whole. Many people benefit from an increase in home sales. The reason is that when home sales see an upswing so does the overall economy. In fact, a total of 28,142 homes sold in July. This number is up 10.4 percent from July 2018. There is no doubt that the real estate market is smoking, especially at lower-end price points.
However, there are still challenges with the lower-priced inventory. Once again, July saw a decrease in the available inventory of homes in the lower end. This puts upward pressure on median-priced homes. Why is inventory a problem? The challenges with inventory are due to the fact that there are still many homes which are upside down. This means the seller is stuck. Some opt for short selling their home which is one way out. Short selling has its drawbacks. This process can be laborious and time-consuming, making many reluctant. Selling your home this route will also cause a drop in your credit scores.
When it comes time to sell your home give me a call at 321-303-3349, I’m happy to talk you through your options and help you through the process. I will help you sell your home at the highest price possible. Until next time, I’m Gitta! Happy home selling!