By Dina Ulrich | February 16, 2023
While no one can predict market trends with 100% accuracy, there are so strong indicators that can impact the real estate market in South Florida:
- Strong demand: South Florida has seen strong demand for housing in recent years, driven by factors such as population growth, job creation, advantageous tax benefits and low mortgage rates. This seemingly endless demand makes it a good time for homeowners to sell their properties.
- High prices: The strong demand for housing in South Florida has helped to continuously drive up home prices, which is a big positive for homeowners who are looking to sell. While interest rates have risen, they have not depressed the average sales price which has also continued to rise as of the fourth quarter of 2022.
- Low inventory: Low inventory levels continue to create a favorable market for sellers, and lead to increased competition among buyers to drive up prices.
It’s important to keep in mind that real estate markets can be impacted by a variety of factors, including local and national economics, interest rates, and more. Before making a decision to sell, call us to get a more accurate and detailed assessment of the current market conditions in South Florida. We can help you decide if now is the best time to sell your home.