If you would like to sell your home quickly and for top dollar, now is the time to sell! We are in a historic seller’s market and if you’re thinking about selling your home now, you’re in the driver’s seat! If you look at the Brevard Monthly Housing Statistics for August, there are three key indicators that proves this point.
#1 – The Median Sales Price – This is the price that half the properties sold above and the other half sold below this price. In August 2020 it was $268,500 and August of this year it went up to $325,000 which is a 21% increase over last year. Where can you get 21% interest these days? Own a home in Brevard county!
#2 – Median Time To Contract – This is the time it takes a home to go under contract once it goes on the market in the MLS. In August 2020 it was 21 days, which is a quick pace under normal market conditions. However, this past August it was just 8 days, which is why houses are flying off the market, and buyers are making multiple offers to buy homes.
#3 – Month’s Supply Of Inventory – This figure tells us the amount of time it would take to run out of homes to sell if no more homes were placed on the market today. In August 2020 it was 1.8 months supply which is extremely low, this past August it went down to 1.1 months supply, which is staggering! In a normal market we can expect 5 to 6 months of inventory before all homes are sold off, but 1.1 months supply puts the sellers in the driver’s seat!
If you’re thinking of selling you home, or maybe you are trying to sell it yourself, there are some key points that you should understand.
#1 – Your home must be correctly placed on the market. It takes more than taking a few photos or even ones that are done professionally to sell a home. The most critical time of home selling in this market is when a home is first listed. If you look at the homes on this website and look at how many offers that were made on a property, this was not an accident, it takes planning and preparation.
#2 – If you are not getting many offers within the first week, that’s not a good sign. Buyers need to be flooding you with offers, this is a seller’s market, remember. The longer a home sits on the market, many buyers are sitting back just waiting for you to lower your price some more. That should not happen in this market!
#3 – Don’t be afraid to ask for help! There’s nothing wrong with trying to sell your home yourself, but it is a lot of work and it can be quite stressful. You need to have the marketing tools available that will help you get to the closing table quickly and for top dollar! If you’re thinking of selling your home, please feel free to give me a call at 321-544-0929 and I’ll be glad to share with you my insights for your home’s sale.