In 2010 the limited inventory in the housing market was attributed to the prevalence of underwater mortgages, difficulty experienced in the attainment of financing, and the affordability of homes to the average consumer. By 2014 there was speculation that homeowners were not ready to pull away with limited equity. In 2015 the common argument was that current homeowners were not able to become move-up buyers as they were still hanging on to their underwater mortgages.
2016 was no different. Buyers are interested in homes but the general lack of inventory is driving up demand. Homes in desirable suburban areas often earned competing bids. The question is: Will this real estate trend continue into 2017?
Given the current market conditions, I would like to stress (yet again) that now is the perfect time to sell your home. If you have been waiting to sell that extra home or move up, now is the time. In fact, In Tallahassee, the average home is around $169,000. Homes that fall into a considerably higher price point sit on the Tallahassee real estate market for longer. This is due to the lowered demand for homes in Tallahassee at the higher end of the price spectrum. Thus, making it the perfect time for move up buyers to get the most for their old home and get the best deal possible on a move-up listing.
Looking for that perfect move-in ready home? Contact Ann Huskey REALTOR® – firstname.lastname@example.org (850) 212-1982