Real estate is always changing and 2020 has had its fair share of ups and downs! Recent trends in Ponte Vedra Beach real estate indicated that we entered a "seller's market" at the end of last year and this has intensified through 2020. No matter if you're buying or selling, our team can help you successfully navigate the current market conditions.
WHAT IS A SELLER’S MARKET?
- Months’ supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace. Historically, six months of supply is considered a “balanced market.”
- In the Ponte Vedra Beach market, there was under 4 months supply by the end of July. Our team sees this trend continuing into the Fall.
WHY SHOULD I CONSIDER SELLING MY HOUSE?
- If you’ve been thinking about selling your home, now is the time! In a seller’s market, homes sell faster and typically for more money.
- With the increased competition for homes, we are seeing more and more offers come in from buyers with minimal conditions of purchase.
- Don’t oversell your expectations! The Lisa Barton Team will help you set a realistic listing price to get your home sold in the timeframe you want.
- Compare offers carefully. The highest offer may not always be the strongest offer depending on the contingencies, timing, etc.
WHAT SHOULD BUYERS KNOW IN A SELLER’S MARKET?
- Be prepared to act quickly! There will be a lot of competition. Come prequalified for a loan and know what your “must haves” are.
- Don’t overpay! It may seem worth it at the time but overpaying for a home can lead to appraisal issues and other problems down the line. Our team can guide you on obtaining fair pricing in this dynamic market.
- Keep your offer straightforward and without too many restrictions for the seller. In a multiple offer situation, the seller will likely select the less complex path forward.