All indications show the 2019 SW Florida real estate market officially balanced. Homes closed is mirroring 2018 levels. We started out a little slow but picked it up in May and returned to just above 2018 levels in June. Interest rates have certainly help spark the SW Florida real estate market.
Closed sales were up 1.0% in June from last year. Median sales price was up 2.0% over last year and the average sale price was up 2.7%. New pending sales were up 9.3% this year compared to last.
Agents we talk to are busy. Title companies are having a big July, so we expect July numbers to be good as well when they are released next month. We are seeing first time home buyers in this market as well as move-up buyers. For nearly a decade we didn’t see much move-up buyers, so this is an encouraging sign.
The Ellis Team will be hosting home buyer seminars soon, so stay tuned or call us to find out when the next one will be. We partner with a local lender and together we bring you the steps you’ll follow to purchase a home. Our lender is a credit repair specialist as well. Many people think if they just pay off a debt it helps their credit, but this isn’t always true. At the seminar, we’ll help you improve your credit score, and explain all the steps on how to purchase a new home.
We also compare renting versus buying. Many don’t realize they could own their own home for less money that they’re paying in rent. We have low to no down payment options as well, so that takes away that worry for some home buyers.
Move up buyers have different needs. First, they need to know how much their home would sell for, and how much money they’d end up with in their pocket. Secondly, they need to know how much they’d qualify for in the new home, and what’s available in that price range. What repairs need to be done to make current home sell-able? Lastly, it becomes a logistics exercise. How do they time the sale with a new purchase?
The Ellis Team can answer those questions. The Ellis Team has vendors that can help with repairs to get your home sellable and maximize value. We have the best technology to alert you to new listings in your current neighborhood as well as pendings and solds. We can also alert you to new opportunities where you’re moving to as well.
The neatest thing is we can now do this nationwide. If you’re thinking of selling here in SW Florida and moving out of state, we have the data to show you right here, right now what your options are out of state. This new data essentially turns the Ellis Team into nationwide agents. We’re not going to show you a home in Maryland or Iowa, but we can sure give you the information at your fingertips on the spot.
Whether you’re a first-time home buyer, a move-up buyer, or moving out of state, we can help. If you live somewhere else and love SW Florida, call us and we can help you too. Not only can we get you neighborhood and home data where you live, we can find the top agent in your neighborhood at the click of a button. It’s pretty neat, and it will change the way people buy and sell real estate.
If you have a home to sell, contact Sande or Brett Ellis 239-489-4042 Ext 4. Or email us at sande@topagent.com or Brett@topagent.com We also have a team of buyer specialists ready to help you. And don’t forget, we have upcoming seminars on the home buying process. We’re also available to meet one on one. That’s what we enjoy most. Always call the Ellis Team at Keller Williams Realty.
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Good luck and Happy House Hunting!
See last week’s article: Should I Refinance My Mortgage at Today’s Rates?