Lakeland FL |Why Sell Now Instead of Later? The Buyers are Out Now
In the Lakeland Florida area, buyer confidence remains strong with some changes on the price level buyers searching for homes in today’s real estate market.
In and around Lakeland Highlands 33813 zip code, home prices have risen by 34.6% in September 2017 from a year ago. New constructions have soared south of the Polk Parkway with the addition of Watson Clinic Highlands, new businesses and stores in the area. This makes Lakeland Highlands one of the most busiest areas in Lakeland.
Did you know that for most families, choosing a new home is the biggest financial decision they will every make. For that reason, there are many steps that goes into buying a home and choosing the home can be very complicated for the family.
I would like to talk about Why sell now instead of later? The buyers are out now
Each year, most homeowners wait until the spring to sell their houses because they believe that they can get a better deal during the normal spring buyer’s market. However, recently released data suggests that a seller’s best deal may be available right now. The concept of ‘supply & demand’ reveals that the best price for an item will be realized when the supply of that item is low and the demand for that item is high. Let’s see how this applies to the current residential real estate market.
SUPPLY
It is no secret that the supply of homes for sale has been far below the number needed for over a year. A normal market requires six months of housing inventory to meet the demand. The latest report from the National Association of Realtors (NAR) revealed that there is currently only a 4.2-month supply. In Lakeland the overall real estate market shows that the month of housing supply is even lower at 3.3 month.
Supply is currently very low!!
DEMAND
A report that was just released tells us that demand is very strong. The most recent Foot Traffic Report (which sheds light on the number of buyers out looking at homes) disclosed that there are more buyers right now than at any other time in the last twelve months. This includes more buyers looking at homes right now than at any time during last year’s spring market.
Demand is currently very high!!
Bottom Line
Waiting until the spring to list your house for sale made sense in the past. This year is different. The best deal is probably available right now.
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About the author: The above real estate article “Why sell now instead of later? The buyers are out now ” was written by Petra Norris of Lakeland Real Estate Group, Inc. With over 20 years of combined experience of selling or buying, we would love to share our knowledge and expertise. Petra can be reached via email at petra@petranorris.com or by phone at 863-712-4207
We service the following Central Florida areas: Lakeland, Auburndale, Mulberry, Winter Haven, Bartow, Plant City, Seffner, Valrico, Polk City, Lake Alfred, Lake Wales, Haines City, and Davenport FL.