Why Sell Your Home Now
April 19, 2022 | Blog
Southwest Florida is in the midst of an incredible real estate market right now. Housing demand continues to outpace inventory. Real estate experts believe this summer could be one of the best times to sell a home in years. Here are a few reasons why.
- Buyer demand is soaring – According to a recent Royal Palm Coast Realtor Association market report pending sales in Lee County shot up 43.1% for single-family homes and 6.6% for townhouse/condo homes.
- Inventory remains low – Despite the large pool of homebuyers, the number of available homes for sale is at an all-time low. In Lee County, inventory is down 17% from a year ago equivalent to 1.6 months’ supply. The shortage is being attributed to the trend of homeowners staying in place longer than ever before. A report from the National Association of Realtors® shows Americans now spend an average of 13 years in their homes.
- Prices are up – Low inventory and high demand are the perfect conditions for home sellers to get high prices. The Median Sales Price in Lee County jumped 26% to $415,000 for single-family homes.
- Rates are low – Homebuyers want to take advantage of the historically low mortgage rates.
- Needs have changed – Home offices, more privacy, outdoor spaces, or more room are just a few reasons why buyers are on the hunt for a new home. Plus, more people are working from home. That means they are able to move closer to family or find a place in paradise now instead of waiting for their retirement years.
Need help navigating this hot housing market? Miloff Aubuchon Realty Group is the #1 Independent Brokerage in Cape Coral and ranks in the top 5 across Lee County. Call us today at 239-542-1075 or contact us for a complimentary home valuation!