Buyer demand is strong, but sellers need to price their homes right

 

We’re less than 2 months away from the end of the year and the SWFL real estate market is as strong as ever. For example, local data from September shows that pending sales have risen by an astounding 80.2% year-over-year, and that closed sales are up by nearly 53% from the same reporting period last year. It’s a big spike- and it’s not something that can (or should) be ignored.

Suffice to say, if you’re looking to sell your home, the state of the market can be summed up in three words: hot, hot, and hot.

Does this mean you can “name your price” and sell your home at leaps and bounds above market value? The answer to that question is a resounding no. If you’re thinking about setting an unrealistic price, you should know, that despite robust market conditions, this is still a bad strategy. Homes that are priced too high not only tend to sit on the market for an extended period of time, but unrealistic pricing also decreases buyers’ interest.

Another thing to keep in mind when you’re pricing your home, is whether your property needs to be updated on the inside and/or outside. Buyers will always choose an updated home over a home that needs an update, unless the older home is priced realistically (i.e., it’s priced with the idea that updates are needed.)

Shifting to the buyers’ side of the equation, if you’re in the market for a house or condo, don’t shy away from the resale market. Why? New home construction costs are on the rise due to increased limber costs, and in many cases, new construction projects won’t be complete for 8 to 12 months, if not longer.

If you’re looking to buy or sell a home, our team is here to help you achieve your

residential real estate goals. Whether buying or selling, our tools are PROVEN to help you get the most from your transaction!