I chose include this article because it has been the theme for My Week In Review since COVID. This artcle by Matthew Gardner chief economist for Windermere Real Estate & the second largest
WEEK IN REVIEW JUNE 22 TO JUNE 29, 2020
New pending sales continue to be strong, nationally speaking YOY (Year Over Year) pending sales increased 13.7% according to the latest Zillow Weekly Market report. The areas experiencing the largest spikes in pending home sales for the week: Buffalo (+26.3 percent), San Jose (+19 percent) and Nashville (+14.4 percent).
New pending sales along our Emerald Coast are also strong with YOY with pending sales up 98% with the largest gains in pending condominium sales up 124% YOY and homes on 30A East up 128%, 30A West up 171% and Miramar Beach/Sandestin BR up 133%.
Inventory remains low and experiencing a 98% increase in pending sales, we are not adding enough new inventory to replace recent pending & sold properties with new listings entering the market, YOY currently Active listings is up only 32% and New listings are up only 43%.
I know I continue to sound like a broken record regarding the need for new listings, for this market to remain vibrant buyers with new money need to buy and owners for sale properties will sell. This is truly a great time to be selling as, buyers buying during COVID are serious & qualified and today we have far fewer looky-loos, tier kickers and bargain hunters viewing properties. With that said I caution seller’s that properties priced at today’s market value are spending less time on the market and are selling @ 97% of the asking price, so price your property correctly. Property owners still on the sidelines waiting, this data certainly indicates the time is right to sell today. Serious & qualified buyers sitting on the sidelines this data suggests that prices are as good as they are going to get.
Please keep in mind that this data is exclusively for inventory in the Destin, Miramar Beach, Santa Rosa Beach, 30A, Inlet Beach & Point Washington market areas. I personally harvest this data with no bias directly from our Local MLS, I ran this data today, June 29, 2020 @ 8:38am, is deemed to be reliable, but is not guaranteed. Please view the graphs below.
I have been a Florida Licensed Realtor for over 24 years, have SOLD more than $550,000,000 worth of every kind of real estate from Pensacola to Destin to 30A and Panama City Beach. With over 20 years....
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