Key Colony Beach, Near Marathon Airport Florida Keys

Florida Keys Market Update July 2020

 
 
 
Friends and Clients —

Nobody expected a real estate rebound quite like this.

As a result, we’re seeing a unique opportunity for anybody thinking of selling a home. We’ll explain what we mean in a second. First, let us give you the details:

1. A surge in demand

According to the National Association of Realtors, pending home sales spiked a stunning 44.3% in May compared with April.

That is the largest one-month jump in the history of the survey, which dates back to 2001. It blasted expectations of a 15% gain.

Additionally, our broker at our July 8th sales meeting, stated that in the 65 years of our company's existence, June of 2020 had the highest amount of properties go under contract ever in the company's history!

Of course, the reason behind this is the pandemic. Much of the housing market shut down entirely in April. Since this is normally the hottest part of the year for real estate, there is a tremendous amount of pent-up demand. But that's not all.

2. Ultra-low mortgage rates

Mortgage rates continue to hit new record lows.

The 30-year fixed mortgage rate currently stands at 3.03%, more than a half percent lower than a year ago.

Not surprisingly, this is creating even more demand, as buyers seek to take advantage of these historically low and favorable rates. There's only one thing standing in their way:

3. A lack of inventory

The inventory of homes for sale was low even before the pandemic hit.

It's even lower now since many sellers pulled their homes off the market and have been slow to list them once again.

The supply of existing homes for sale at the end of May was nearly 19% lower than the same time last year.

What does all this mean for you?

In short, it means we are back in a strong seller's market.

Pent-up demand and low mortgage rates mean there are many buyers on the market. On the other hand, low inventory means much of that demand is not being met.

As a result, prices are rising, bidding wars are becoming common, and homes are selling quickly.

If you were to sell in the current market, you'd have a great shot at selling for top dollar and in record time.

Like we said, right now might be a unique moment. It's not clear how long this situation will last. As more sellers start listing their homes, we're likely to have some balancing out between supply and demand.

If you are considering selling your home, you can start by simply finding out what you could get for it in the current hot market. An easy way to do this is with the following home value calculator, which takes into account recent Florida Keys sales:

Enter your address here to find out what your home is currently worth

If you are curious about selling your home or simply have questions about the current Florida Keys market, give either one of us a call.

Schedule a call with Ashkarian/Ardis Team
Lela: 305-395-0814 | Natalie: 305-481-3317  
https://calendly.com/lelarealtor or https://calendly.com/natalieardis

Or visit www.SearchFloridaKeysHomes.com/sell

We're talking to buyers and sellers all day long, and we have a great feel for changing market conditions, which we are happy to share with you.

Have a great day,

Lela Ashkarian & Natalie Ardis
 
 
When a listing becomes canceled or expired, it can tarnish the property, but with the right plan moving forward, it doesn't have to. By FOCUSING on what prevented the sale, we can build a strategy that will revitalize the listing. Our approach has been proven time and time again to successfully sell canceled and expired listings, and we can do the same for you. Don't let your prior experiences deter you from getting your property SOLD. It only takes one buyer to make a deal happen. We know how to find that buyer and get the deal that you deserve. Call us today!

Schedule a call with Ashkarian/Ardis Team
Lela: 305-395-0814 | Natalie: 305-481-3317  
https://calendly.com/lelarealtor or https://calendly.com/natalieardis
 
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Now really Do you want to Find and Move in Florida Keys?

Remember ---what you think about, you talk about, you bring about. Don't! keep me a secret..Right Now, take out your cell phone, look up my number  305-395-0814  and give me a call, Have the best day of your life

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Lela Ashkarian, PA, CRS, GRI, e-PRO

Coldwell Banker Schmitt Real Estate

International President's Circle

11050 Overseas Highway

Marathon, Fl 33050

305-395-0814

lela@coldwellbanker.com

 
P.S.My Purpose is for you to be so outrageously happy with the help I provide you that you'll gladly introduce me to at least two people you really care about before I even sell your home/help you buy a new home.  Not because you feel obligated, but because you truly believe they will benefit.

 

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Comment balloon 0 comments • Lilas "Lela" Ashkarian • July 10 2020 04:42PM
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