THE HONEST BROKER: HAPPY NEW YEAR 2022!
BY: DIANE LOTT, BROKER, PARADISE FOUND REALTY, INC.
As this year comes to an end, we reflect on what occurred over the past year and we look forward to all the things and events to come in the next. Some are contemplating a change in living situations; this could include moving from one state to another, moving from one city to another, or a local change into a bigger or smaller “place”. This can be noted every year in real estate and considered to be a New Years’ resolution to improve the quality of one’s lifestyle.
We continue to welcome a consistent migration from other areas to Martin and St. Lucie. This is due, in part, from our state’s reopening of our economy, schools and businesses. Residents of other states, as well as counties within Florida, saw that the “grass was indeed greener on the other side of the county/state line”. The influx of residents and their need for homes, but our low inventory, is keeping pricing quite elevated. This trend will continue for months to come. People are fleeing high tax states and seeking Florida as a tax shelter and economic alternative. Also, the trend of remote working and the need for less congestion, are frequently cited as reasons to be seeking a new home here in Martin and St. Lucie counties.
Martin and St. Lucie have more affordable housing as compared to the tri county areas of Dade, Broward, and Palm Beach. We look forward to the housing markets’ continued success and boom. If you are considering moving to another location, this is the time to place your home on the market, as you can take advantage of the migration. We are in a seller’s market currently; prices are up, and the “time on the market before selling” is shorter; between 2-3 months of entering the market to closing. There is such demand for housing that I am witnessing buyer “bidding wars” again on some properties. This is a good healthy sign for our local real estate market.
Have a safe and adventurous New Year!!
Diane Lott, Broker
Owner: Paradise Found Realty
Paradise Found Realty, Inc. of Palm City
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