Blog

Jul
21
A Window of Opportunity for Sellers to Strike an Amazing Deal This Summer


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The lack of availability on the market has buyers viciously competing with each other to get the home they want. Back in March many sellers pulled their homes off the market, waiting for more stable ground before selling their home. However, many buyers are looking for new homes as trends shift and working from home becomes the new normal, people want bigger homes with spacious offices. This has them grappling to find the perfect home and with not much available on the market.


It's understandable why sellers feel wary of putting their home on the market in such uncertain times, they want to get the most value out of their home and back in March no one knew what the future would look like, in general a great amount of hysteria surrounded the pandemic. However, things are slowly inching towards getting better with the developments of promising vaccines and people relaxing into the 'new normal'- hopefully by the end of the year we will see a lot of improvement with the virus. This summer marks a great time for sellers to put their home on the market to strike an amazing deal with less housing competition than ever before. With so many hungry buyers searching for their dream home- many especially within the luxury housing market have already taken advantage of this opportunity.


“There's a backlog of buyers across all segments of the housing market, and the low number of homes available for sale at all price points is giving sellers more leverage,” said Javier Vivas Castillo, director of economic research at realtor.com.


That’s certainly the case in the luxury market, where competition is increasing and conditions are more “seller-friendly” than they were at the beginning of the year, he said. Total inventory of U.S. homes priced at $1 million or more declined 14% this June compared with June 2019, according to data compiled by Mr. Vivas Castillo. The number of new listings in the same price point, meanwhile, increased 26% over the same period, according to the data.


Currently, there is a great window of opportunity before the summer ends for sellers to get an excellent deal in, especially before a looming potential second lockdown sweeps across the nation this fall.


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 Keller Williams Island Life Real Estate       The Coffey Group Fine Homes International        Coffey & Divald Property Management 

 206 Harbor Drive S,                                    1491 2nd St Suite B, Sarasota FL 34236

Venice, Florida 

34285

United States