Since January of this year, all of Dade County, has shown an increase of 41.5% in sales and a decline of 29.6% of inventory.
This is good news and an opportunity for families that want to sell, to put their homes on the market, NOW.
Here are three reasons for this surge:
- Buyers are taking advantage of the lowest prices in three years
- First time home buyers are taking advantage of the $8000 tax credit offered by the federal government
- Interest rates are low
The New York Times as well as tv and other print media have been touting the news since yesterday when the new statistics came out. Many see this as the beginning of the recovery, the stabilizing of prices and the start of a great new beginning for real estate.
I see it as, a moment in time to take advantage of the activity. It may not last. Many more foreclosures are coming down the pike. These have a negative impact on prices. They will also increase the inventory, again.
The low prices are what is attracting buyers. If homeowners start raising their prices, they will see demand drop off.
What we do know, is that this is a time to act. It may not last. We cannot see too far into the future. If there are buyers out there, price your property correctly, and put it on the market, now.