Though the pandemic has hurt more than a few industries, we can think of one that’s faired pretty well: Florida real estate.
Many sources say that it’s gotten pretty difficult to buy a house in Northeastern Florida.
Some homes are reportedly selling for $100,000 more than their asking price. It’s a textbook case of supply and demand: when supply goes down, pricing goes up.
Why Florida is a seller’s market
You can thank the pandemic for Northeast Florida’s current housing regulations.
COVID has changed the housing scene in several different ways. A big part of it? Changes in the way we work.
Companies have realized that most of today’s white-collar jobs can be done from anywhere — and employees have realized they’d rather work in a warm locale, as opposed to a cold one. People who used to work in New York or Boston offices prior to 2020 are now migrating down to Florida in droves.
And Floridian real estate agents have noticed. There are twice as many people moving to Florida now than there were in 2019 and 2020.
Available houses are going fast, too. While houses normally stay on the market for about six months, today they’re going in an average of 11 days. Many real estate agents describe the market as the craziest and quickest moving one they’ve ever seen. It’s not uncommon for a house to come on the market and get 20 offers the first day!
Tips for finding your next home
Potential buyers who want to improve their chances of finding something may have success with making the transition easy for the seller. Some experts even suggest agreeing to let home sellers leave behind furniture or delay closing dates as needed.
Courtesy always pays off — and, in this case, it’s a great way to differentiate yourself from all the other potential buyers out there.
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Whether you’re looking to buy or sell, we can help you navigate Florida’s hectic market and get the best deal possible. We offer an extensive portfolio of fully customizable services — if you’re wondering if we’re the right fit for you, the answer is probably yes!
Schedule a free consultation today by clicking here or calling (321) 297-8960. We’d be more than happy to hear about your situation and what you need help with.
To your peace of mind,
Icon Property Management