Historically, fall is not the best time to list a property, but just like 2020 is not like any other year—real estate markets are not like any other year. Thinking about selling this fall? It just might be a great time! Based on the current market here on the Emerald Coast as well as across most of America, selling could be a lucrative option for property owners.
Buyers are actively looking right now. ShowingTime, a real estate showing software, provides market statistics. A recent report shows that buyer traffic jumped 60.7% compared to this time last year. That is a stunning increase! These buyers are not just looking. They are ready and able to buy—especially with interest rates vacillating at an all-time-low. Locally, we have had bidding wars competing for some properties.
That fact brings us to the next point: lack of inventory. In the most recent Existing Home Sales Report, the National Association of Realtors reported that inventory was down 18.6% year-over-year. Simply put, there are more buyers than sellers.
Across the country and in varying degrees, for months Americans have had to seclude themselves in their homes and limit activities. The pandemic is not over, but many people have evolving mindsets. Nesting is taking on new meaning in 2020. Some owners are improving their home spaces; some are looking for a change, for a move.
Are you happy with your home? Are you looking for a change? Now is an excellent time to discover what your primary home, second home, or investment property might be worth. Just let us know. Our motto: Making Real Estate Your Best Investment!