Why is it a great time to sell your home? Because your Realtor told you it is, why else. Well, the truth is, it is a great time to sell. The real estate market throughout the country is seeing a rise in sales prices. The biggest catalyst to this is the low level of inventory available in the market.
Bloomberg news reported Monday that prices for single-family homes rose during the last quarter in almost 88 percent of U.S. cities, with an average rise in Western states of 20 percent. The national median price for an existing single-family home in the U.S. was $178,900 in the fourth quarter, up 10 percent from the same period last year.
Florida differs from much of the country in its recovery. “After suffering some of the nation’s largest declines, data show that a rebound in this state is clearly under way,” the Fed said. “However, Florida is in many ways unique. Significant investor activity has boosted the housing sector in the Sunshine State, as have the number of international sales in the Florida market” the Fed said in its fourth-quarter EconSouth publication.
Those where the statistics from the national levels. Locally in Miami, we definitely see prices rising. Its back to basic economy, supply and demand. In the recent past, we have been very firm on pricing to assure proper placement in the market. Today we have more liberty with pricing since limited options have created another frenzy in the market. Many homes again are advertised to brokers as “not contingent on appraisal”. This meaning if the home is sold for $300,000 and the lender values your home at $275,000 you need to put in the difference. F-R-E-N-Z-Y. All of these indicators tell you that it is a great time to sell. I agree!
Just my take... 