It’s probably not what you would guess in our economic climate. But, if you’re looking to sell your home, now is the time. It’s a sellers’ market.
We spoke to a homeowner looking to sell and a real estate agent who explained some of the reasons behind the current trend Friday.
Ali Levine put her house up for sale earlier this year.
“We had some bites here and there, so it was definitely a decent market beforehand,” Levine said.
That changed when the pandemic hit, so Levine took her home off the market.
“I thought that could have a dramatic effect on the housing market down here,” Levine said.
Josh Burdine with Royal Palm Coast Realtor Association said lots of potential sellers made the same decision for the same reason.
“Uncertainty,” Burdine said. “Nobody likes uncertainty.”
While the number of homes sold is down 14% compared to last year, the average price of a house for sale is holding steady.
Realtors say that’s important.
“If the prices were dropping and dropping and dropping, that would mean that no buyers are wanting to buy,” Burdine said.
But there are buyers ready to pay. The problem is there are fewer homes to choose from.
Available single-family homes in Lee County are down 23%. Townhouses and condos are down 21%.
Buyers seem to be coming back to the market more quickly than the sellers are putting their homes back on the market.
Realtors say it will be until at least summer and maybe fall before there are enough homes on the market to allow home sales numbers to recover.
Levine decided to list her home back up Friday.
“I’ve spoken to my realtor, and she says that things are selling,” Levine said. “So that’s really encouraging.”