Today, we're going to discuss the market on the Sun Coast. This market is a seller's market. However, there are some big changes today versus what's happened in the past.
For instance, the Internet is huge in today's market. Back in 2005 and 2006, Zillow did not exist. The buyers have a lot of control because they have more information available to them. You can't just put your home on the market and price it however you want, because the buyers will know more about the true value of the home.
As a seller, we want to understand what the market is doing. As we go into this fall selling season, we look like we have a really strong pace. Going into spring, however, interest rates may start to rise. When that happens, the market will slow down, and you don't want to be caught in that.
If you're on the west side of Sun Coast, there's not as much new construction, and the inventory is low. If you head out east, there's competition with new construction, so the inventory is a little higher. Overall, we have about three and a half months of inventory, which puts us firmly in a seller's market. Four or five months of inventory means a balanced market, which might happen when interest rates rise.
If you have any questions, please contact us. We want to educate you on the market so you can make the best decisions possible. We look forward to hearing from you!
Marcus Vanzant, Owner/Broker, REALTOR®
Bradenton Real Estate Expert