You’ve heard the movie quote “Build it and they will come” from Field of Dreams. The saying for the SW Florida real estate market is price at market value and buyers will come.
Pending sales were up 2.2% in June which should lead to some nice closing numbers going forward. However, if you look at the pricing trends for the past few years, you will notice prices have not moved much. Every year around May or June home prices are lower, primarily because the larger sales happen in season. 2020 was different because season was interrupted by covid-19 and we were under a stay-at-home order in April.
Price at Market Value and Buyers Will Come
What is selling today is pretty much anything that is priced correctly. We are selling low, middle, and high-end homes. The key is, buyers are looking for housing amongst low inventory, but they don’t want to overpay. Buyers never want to overpay, and sometimes it seems like they must in low inventory markets. We do think there has been some upward price pressure, but we are not seeing it yet in the overall numbers. We may see it in the June or July closings when those numbers are released.
Sellers must weigh to counterbalancing ideas. One is you have got a hot commodity in a lower inventory market. The other is you don’t want to be greedy and miss this market. Inevitably some sellers miss a seller’s market because they get too greedy and think the hot market conditions are going to last forever. These sellers always say, “I wish we had that hot market back” when they own their home 4 years later but wished they had sold 4 years ago.
We can sell a home in a hot, warm, or cold market. The fact is some sellers succeed while others fail to sell even in the hottest of markets. It is always nice to sell in a hot market, and it stinks to miss it because you thought it was going to go even higher. It’s happened before, and it will happen again. The question is, is it going to happen to you?
Market Where the Buyers Are
The other key ingredient is knowing who your market is and knowing how to reach them. We’ve had great success with out of state buyers, so we’ve marketed out of state. You have to go where the buyers are, and the Ellis Team knows how to do that.
Our listing inventory has shrunk because we have sold most of it. Sure, we have new listings coming in all the time, but not as many as we are used to marketing. If you have a property to sell, you might want to give Brett or Sande Ellis a call. 239-489-4042 Ext 4. We have over 3 decades experience marketing in changing markets, and we’re definitely experts at reaching buyers where they are.
The Ellis Team has been voted Best in Real Estate for 5 straight years in the News Press Reader’s poll, and that does not happen by accident. We’d like to sit down and discuss your goals and see if we can make your goals a reality. It all starts with an idea. Some ideas are available right now, especially since rates are so low. Chances are you might qualify for more home for less monthly payment than you have right now. Other ideas might take some planning, but with expert help we can put your ideas into motion and make that next step a reality much sooner for you.
Curious About Selling?
If you are simply curious about your home’s value. Check out www.SWFLhomevalues.com You can check on your home’s value without having an agent out to your home. This preliminary step might help get the wheels turning for you. Of course, Brett and Sande are just a phone call away if you need us.
Good Luck, and Happy Selling! Call us if you need us 239-489-4042 Ext 4
See last week’s article “Advantage Southwest Florida Sellers as Sales Outpace New Listings”