Traffic on the roads has slowed down in town, but traffic in the real estate community hasn’t. We’ve listed some homes and had contracts on them in short time. So we asked the question, did the dates for season change this year?
Last week two deals fells out and I was kind of mad because the seller had taken their home off the market for 2-3 weeks in March only to have a buyer decide they’re not buying in Lee County. The sellers had just given up most of March for a flaky buyer.
The good news is within a few days we found a cash buyer with another cash buyer in waiting and the property will close near the original closing date so the seller is happy. I’ve spoken with several real estate agents who tell similar stories and they feel the buyers are still engaged and looking.
I decided to delve into the pending sales statistics to see if what I’m seeing is true overall, and the answer looks to be it is. As I’ve stated before agents tend to judge the market by how their own deals are going rather than looking big picture.
I looked at new pending sales in February which is the latest data released and they were up 21% this year, as you can see from the chart. This has been a positive trend dating back to September 2014.
Did the Dates for Season Change This Year?
Almost every statistical category has improved over last year, from median days on market, percent of list price received, pending inventory, active listings, and month’s supply of inventory.
I’m not sure you can call a 6.1% decrease in active listings an improvement because we need more, but it does signal we’re in a great market for sellers.
Because February data doesn’t always tell the story in April I decided to search the MLS for pending sales right now. This week it came back at 2,531 pending listings, up from 2,386 back in February.
I’m thankful for all the pending sales we have right now, but I’m eve more thankful for the two that just sold again in April after having their deal fall out. That is a wonderful sign.
We have several new construction deals in place too as some buyers just could not find what they were looking for in the resale market. Sometimes it just doesn’t exist. Buyers are surprised to find that when they enter their search criteria sometimes there is only 3-4 matches. Sometimes it’s zero.
This is why it’s important to have your finances in order so when you spot that house that matches your criteria you’re in a position to pounce. Other buyers just like you are also waiting for that home to hit the market. You cannot assume you are the only buyer.
It’s kind of like dating on one of those Internet dating sites. When a new attractive person enters the site they’re going to get immediate interest. In real estate, the best homes go fast and the one’s that sit there are the unattractive and overpriced homes.
Just like dating, there’s a match for everyone, you just have to play in your league. If you’re an overweight balding middle age man that drinks beer and sits on the couch all day you’re probably not going to attract that active in-shape 25 year old model. She’s going to end up with someone in her league, not yours.
In real estate, all homes will find a buyer at the right price. Even if the home is unattractive someone will buy it. You just have to price it in the right league, or get off the couch and work on it. When price meets value, a home will sell.
Don’t wait when you see your home come on the market. Feel free to search the MLS at www.Topagent.com
If you’re selling, call an experienced match maker who can help you play in your league. We’ll get your home sold and you’ll be on your way to having fun. 239-489-4042
Call us to sell your home. 239-489-4042
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SW Florida Real Estate Market Update
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