5 Reasons Why Tampa Bay Housing Prices Continue to Rise Low Inventory- The Tampa Bay area of Florida could handle up to 5 TIMES more inventory hitting the market TODAY and we would then be in
What It Means To Be In A Sellers Market In Florida
Dated: March 30 2021
What It Means To Be in a Sellers’ Market in Florida
If you’ve given even a casual thought to selling your house in the Tampa Bay area in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make sure your house is available for anxious home buyers who are looking for homes to purchase...right now.
In the latest Existing Home Sales Report from The National Association of Realtors (NAR), the report shows the inventory of homes for sale across the country is still astonishingly low, sitting at just a 2-month supply at the current sales pace. In Pinellas County, we have an even tighter housing market, with just a .8 month supply of homes available (that's correct, LESS than 1 month of inventory at time of publication!).
Historically, a 5 1/2 - 6 month supply of housing inventory is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (See graph below):When the current supply of homes for sale is as low as it is right now in Florida and the Greater Tampa Bay area, it’s much harder for buyers to find homes to purchase. As a result, competition among purchasers rises and more bidding wars take place, making it essential for buyers to submit very attractive offers to win the homes they want.
As this happens, home prices rise and sellers are in the best position to negotiate deals that meet their ideal terms. If you put your house on the market in Pinellas County while so few homes are available to buy, it will likely get a lot of attention from hopeful buyers. When you list a home with The Sandy Hartmann Group, not only do you get the very best listing exposure to get you top dollar, we also market our listing to THOUSANDS of our previous clients that have friends and family looking for homes as well. Our strategic marketing efforts have been breaking sales records for our clients across the Tampa Bay area.
Today, there are many buyers who are ready, willing, and able to purchase a home in Pinellas County and the Greater Tampa Bay area of Florida. Low mortgage rates and a year filled with unique changes have prompted buyers to think differently about where they live – and they’re taking action. The supply of homes for sale is not keeping up with this high demand, making now the optimal time to sell your house and collect the very highest price when you work with our real estate team.
Home prices are appreciating a record rates in today’s Tampa Bay housing market. Making your home available for sale over the coming weeks will give you the most exposure to buyers who will actively compete against each other to purchase it.
Call Us Today at The Sandy Hartmann Group at (727) 398-2310 to get an expert price analysis and marketing strategy for your home.
As a Senior Listing Specialist at the Sandy Hartmann Group since 2013, Laurie Chase is a seasoned real estate professional, dedicated to supporting her clients and providing expert advice and knowledg....
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