Many people believe that selling a home during the holidays or winter is not ideal. However, in Florida, this couldn’t be further from the truth. While the spring market is traditionally more favorable for home sales in many regions, Florida tends to gain momentum during the winter months.
Closed transactions were down significantly when compared in October when compared to last year. Obviously, this year’s hurricane season played a role in that outcome. The question is whether that will continue. While the likely answer is “yes” to some extent, now is not the time to panic if you need to sell. There is still only around five months of inventory on the market, which means we are dealing with a market that is in balance. It really doesn’t heavily favor buyers or sellers. Putting your best foot forward will be important if you are buying or selling at this time as your leverage will most likely be limited. The infographic from Florida Realtors below contains more.
Moving into a new home is an exciting experience, and it’s easy to get caught up in planning your decor, choosing paint colors, and shopping for new furniture. But before you dive into the fun stuff, there are some essential tasks you should tackle first.
August final statistics for Single-Family Homes in Manatee County showed a continuation of existing trends. New listings outpaced closed home sales, which continued to drive up inventory levels. The additional inventory on the market is moving the balance of power slowly towards buyers. At this point, there is still a pretty decent power balance between buyers and sellers, but if this trend continues, the market will shift squarely into a buyers’ market in Manatee. The infographic below from Florida Realtors contains more.
While inventory is up materially year-on-year, closed sales also saw a jump in July in Manatee County. Overall, the market still slightly favors sellers, but it is still a good time to be on both sides of a transaction as relative leverage exists. You may have been reading some doom and gloom articles about Florida listings, but the negative news appears to be largely confined to the high-rise condo market outside of Manatee County at this time (largely due to potential or actual large one-time assessments). See the infographic below from Florida Realtors for more.
