We are officially nearing the end of July, and you know what that means – it’s time to take a peek at last month’s numbers, and I am happy to share that the numbers are GOOD!
Particularly in looking year over year, inventory is down from last year – holding at just over 3 months inventory, versus 5.2 months of inventory in 2019.
But – what does that even mean? I can help with that. . .
A balanced market is generally having 4-6 months of inventory available in your local market. Anything BELOW 4 becomes a seller’s market, where they will have more asking power during negotiations, due to the scarcity of properties available for buyers to consider. Likewise, anything ABOVE 6 and it’s the buyer with the greater asking power. Showingtime.com – Everything You Need to Know About Months Supply of Inventory
Right now we are trending juuuuust below a balanced market, but with a bit more power leaning toward the seller’s side of the deal. Luckily – low rates have contributed to the ongoing strength of our market, keeping buyers present and participatory!
So if you have been thinking about selling your home, take comfort in the numbers my friends. The time is most certainly now to do that. Just look below! These stats were compiled by the Florida Realtors Association, and reflect all single family properties pending and sold in the Cape Coral/Fort Myers area within the month of June 2020.
(If you have questions on anything here, I’m always a quick call, text or email away!)
Does now feel like the right time to make an appointment for a FREE market analysis of what your home is worth? Or maybe you’re thinking you should really get that pre approval before rates bounce higher? I can help with all of that!
Fill out the form below, and let me know what works best for you. It would be my absolute pleasure to help any way I possibly can.
Take good care until next time, friends!