SW Florida real estate inventory drops in April. Back in February we calculated 6,677 listings from MLS and today we have 6,283. Either more homes are selling to cause this drop, or homes are expiring and have not re-entered the market yet.
So, let’s dig deeper, find out what is causing this, and look at the opportunities. We run a 365-day moving average tracking the SW Florida home sales. Back in February we tracked 13,083 sales compared to 12,986 today. What this tells us the inventory levels are not coming down from increased sales. In fact, sales have lightened up a bit. The other thing it could be is increased pending sales taking inventory off the market, but they haven’t closed yet.
Official pending numbers for March will be released next week, so we’ll study those. We watch the expired listings hitting the market each day and we noticed a large number at the end of March. With listing numbers down almost 400 we can assume some sellers gave up when they didn’t get their price.
We can also assume that many of those same sellers would like to sell. Perhaps they have another property they’d like to move to. Perhaps they’re tired of the HOA or condo fees where they live now. Maybe it’s just time. In any event, there may be a way to get your property sold.
Sometimes sellers just hire the wrong Realtor. They assume all Realtors market the same, therefore they will all fetch the same price for their home. Reality tells us this isn’t true. Some Realtors practice the 3 P’s of marketing. 1. Put a sign in the yard. 2. Place it on MLS. 3. Pray that another Realtor sells it.
Placing a home on 100 different Internet sites is not marketing. Anybody can do that. It’s easy, and I’ll show you how. The real marketing is finding buyers for your home. This entails calling a database of buyers looking in your neighborhood. That’s right! We have a database of buyers looking for homes in your neighborhood. If you doubt me, I’ll show you the database. I’ll show you the buyers.
Secondly, we want to create new buyers not already in the database. We target buyers online who are looking for a home or condo just like yours. You can’t wait for the market to come to you. You must go and get the market. This is why so many homes expire and never sell. The Realtor didn’t go and get the buyer.
Sellers do not want to reduce their price until they’re satisfied that all the marketing is being done. They only want to reduce the price when they’re convinced it is the price, not the marketing. When you hire marketing gurus when you list the home, you’ll know. Hiring the wrong Realtor can cost you valuable time on the market with no sale.
Lots of people call us the 2nd or 3rd time around. Why not call us 1st? If you’re thinking of selling, or tried to sell and failed, give us a call. It might not be the price. You might have simply selected the wrong Realtor.
Open House App
We have an app that will show you all the open houses in your area, no matter where you live. It even works up North. Simply go to www.SWfloridaopenhouse.com and download the app. Sellers like it so they can explore the competition. Buyers love it so they can see today which homes will be open house next weekend.
Free Home Value
You can also check out your home’s value online for Free. Go to www.SWFLhomevalues.com This site does a pretty good job of estimating your home’s value. It’s scary how accurate it is many times. Of course, if you’re thinking of selling, always call Sande or Brett Ellis 239-489-4042 Ext 4 and we’ll be glad to visit your home and verify its value. We’ll show you how we go out and find the buyer. We don’t wait for the buyer to find you!
Happy Easter, and Happy House Hunting!
Ellis Team Weekend Open Houses