THE HONEST BROKER :HAPPY NEW YEAR!
In retrospect, 2020 was “one for the books” and looks a lot better in the rear-view mirror. We are all anticipating a new and fresh year.
Hopefully, it will resemble those years prior to Covid-19, and we will all be able to see each other’s smiles again.
The real estate market took a dip during the summer months of last year but accelerated and exceeded our expectations for the last quarter of the year. This was 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”.
We enjoyed an influx of residents with their need for new homes as was evident by our present inventory being absorbed at a rapid pace. This trend will continue for the next 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.
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 (see last week’s market watch statistics blogpost). 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.
Let’s all celebrate the 2021 real estate prosperity to come!
Stay well ….
Diane Lott, Broker
Owner: Paradise Found Realty
Paradise Found Realty, Inc. of Palm City
Email: [email protected]
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