As the competition among sellers is increasing, it is a good time to think about things you can do to maximize the value of your home from Florida Realtors.
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Home Selling Updates
Category: Home Selling
We saw mortgage interest rates come back down a bit over the last 30 days. The recent change will save new borrowers over $17 per month for every $100,000 borrowed. Average U.S. rates for 30-year fixed rate mortgages were at 5.51% as of this week. Last month at this time, they were sitting at 5.78%.
Sarasota County is moving towards a balanced market in lockstep with Manatee. However, it has a longer way to go to reach that balance. At the current pace, it looks like Sarasota County is a few months behind Manatee in reaching an equilibrium. That said, conditions are very fluid. For now, sellers still hold most of the cards in SFH transactions in Sarasota.
Closed sales continued their YoY downward trend while new listings continued their YoY upward trend in Manatee in May. That is good news in terms of balancing the market. We still have significantly less inventory than we need to support the current sales volume, but the market is moving giving buyers some leverage.
It looks like we are heading back to a market where sellers will benefit more from forethought in home improvements before selling. Here are some thoughts on appliances in the infographic below.
