In this interview on Daytime, I discuss the latest market trends.
When you live in a competitive housing market, it’s important to know the current trends for real estate, no matter if you’re buying or selling property. Today I’d like to share a clip from an interview I gave on Daytime where I discussed the latest trends in the housing market.
“What trends have you been hearing about?”
Since COVID hit, we’ve been in a seller’s market, and that trend remains intact. Even with interest rates rising, I don’t think we’ll see any drastic changes. In a flat market, there would be between five and six months of inventory—right now, we have a two-week supply of single-family homes throughout Tampa Bay.
Homes are also sitting on the market a little longer. They used to be snatched up within a couple of days, but now they could take a week or two to sell. Those are great signs. A healthy real estate market shouldn’t have a house that gets 20 offers in a day. It’s normal for a house to be on the market for a couple of weeks. These trends show that we’re slowly moving toward a more normalized market, which is beneficial for everyone.
“For sellers, what goes into pricing a property appropriately?”
Many factors go into pricing a home. If you’re in a neighborhood where houses similar to yours have sold, use those home sales as a starting point. You’ll also need to factor in the home’s location, upgrades, and amenities. Once you put together all that information, it will point you to a common-sense listing price. With proper marketing and the right negotiation strategies, you can get the most money possible from your home sale.
“If someone is curious about selling a home but they’re not quite ready yet, that’s where you and your team step in, right?”
It’s never too soon to reach out to me, even if you’re six months or a year away from being ready. Go to our website to get an approximate valuation for your home, or if you’d like a more exact valuation, I can come to your home in person. Then we can go over the comps and the data to make good decisions and plan accordingly.
“What do you say to people who are worried about selling their home because they don’t think they’ll be able to buy another one?”
We haven’t left anyone homeless yet. Whether we have to knock on doors or put up flyers, we will find you a home. We list around 20 houses each month; you may want to buy one of the properties we already have in our own inventory. Additionally, we have access to hundreds of other listings through our brokerage.
I hope you learned something from my interview, and if you have more questions about the real estate market, don’t hesitate to call or email me. I’ll be happy to help!