There was an upward bump in new listings just prior to Easter, but inventory has declined since that seasonal activity.  Houses that show well and are priced correctly have been selling quickly.  New listings are down 10% and pending sales have increased 4%, with a decline of 7.2% in inventory.

Median Sales Price have been increasing and the luxury home market is selling.  Percent of List Price Received continues to hover at 96%.  Months Supply of Onventory continues its downard slope from a little over 8% in 2015 to 7% in 2016 and 2017 is just over 6%.

Although there is a mounting amount of buyer competition during the annual spring market cycle, buyer demand has not abated, nor is it expected to in the immediate future.  What does this mean for buyers?  While strong demand is generally considered a good problem to have, it create affordability issues for some buyers, and prices will continue to increase.  If you are considering purchasing real estate, get finances in order, speak with a lender, and be ready to move forward if you see a property you like as most likely, you are not the only buyer looking at it.

We would be happy to help answer questions and get you in touch with a local lender.  Ready to view homes & villas?  Call us today to set up a viewing appointment.   

Posted by Christina Galbreath-Gonzalez on
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