Real estate is a local issue.
Since the real estate climate in the Keys varies from subdivision to Island, it is important for you to know and understand how all the pricing fluctuations work here.
In addition, conditions can also change quickly, so you need the most up-to-date information available to make a well-informed decision. If you’re thinking of buying or selling a home, contact me for an overview of current market conditions. I can determine the value of your existing home or help you estimate the cost of a home in an area you may be considering.
Over the past five years, the United States real estate market has experienced record sales and price appreciation. The real estate boom has been especially strong in the South East, with home values doubling and even tripling in some cities.
Real estate is cyclical. In some areas, particularly those that have seen annual appreciation rates of 20 percent and more a year, the real estate market is cycling back to more normal conditions. The normalizing of home prices is a natural part of the real estate cycle. It’s also healthy for the market, serving to rebalance supply and demand, and to bring prices more in line with what consumers can afford.
Remember that housing markets are all local. At the height of the real estate boom, some areas of the country experienced annual appreciation rates in just the low single digits. And even in regions that are seeing home prices moderate today, there are properties in highly desirable neighborhoods that continue to receive multiple offers.
What’s important is how to make the best possible real estate deal in your market. That’s where I can help. Whether you’re looking to buy or sell a home, here are some strategies that will help make your real estate transaction more successful.
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