Serge's Blog Serge's Blog

Last month, NAR reported that home sales were at a high not witnessed since the downturn. From the increase in home sales, the continued demand from buyers, and national reduced inventory, there is no time like this July to sell your home. Consistently the inventory has been a driving factor in homes undergoing bidding wars, so if you are looking to sell your home fast, there could not be a better time. Miami in particular has so few homes on the market, if you have a home in Miami, Coral Gables, Coconut Grove, or Pinecrest, you should consider the three below reasons to sell. Contact me today for a market analysis.

1. Demand: Not only is there continued sustained demand for homes, the buyers are in a number of different demographics. From First time buyers taking advantage of low mortgage rates, to boomarang buyers coming back from foreclosure, to traditional owner occupants, and of course international buyers, the Miami market is flooded with buyers. Demand at this level necessitates inventory.

2. Price: Single family homes and condos have undergone massive increases in value the past two years and often are 13% over purchase price. It is some of the largest gains since 2007. Further, homes are getting ask price or inspiring bidding wars, so homes are selling in record time for record prices.

3: Competition: Inventory is incredibly tight and buyers are competing for the supply. There are fewer properties in distress, which translates into homes fetching their actual value. Unlike years prior, in which distressed homes would bring down the value of neighboring properties, the market is more healthy.

 
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