What Will Happen to Prices?
Will Prices Continue to Increase?
That is one of the most asked question today about real estate. We are fortunate in Florida as there still is more demand than other states in the US. However, even in Florida the concern over interest rates and inflation is already having an impact on many buyers. We are still seeing multiple offers on many in demand homes however the number of price reductions have increased too.
Why have we seen the substantial increase in prices during the past two years? It is simple...Supply and Demand. There were 20-40 buyers interested in many homes which allowed the prices to be negotiated up. It was not that the homes were worth it, it was that buyers didn't care.
So what can you expect if you are thinking of selling in 2022?
If you focus on the correct formula, you can still get a great price with amazing terms. If you miss it, even a little, you will miss the multiple offer opportunity. What is the formula?
It is correct pricing, expected condition for the price and marketing that focuses on local, national and international buyers.