Highlights for this month
• Anchor Realty is now serving Destin and the surrounding area
• The best times to buy or sell a condominium this year
• Annual trends on condominium sales
Trends to watch out for
Selling or buying real estate is one of the most important financial decisions you can make.
There are key ingredients in devising a strategy that will help ensure that you receive the full financial potential available to you through the sale of your property. In addition, the same well-planned strategy can minimize the amount of time your home remains on the market. Your foremost decision resides in the choice of the right real-tor and brokerage.
Trends influencing our market are crucial to watch and monitor. For the Gulf Shore Drive area, one relevant variable is the monthly number of new real estate listings. The graph below displays the 5-year history of new listings:
Condominium Prices
As you can see, condominium listings increase during spring and summer months (higher demand), and then tend to level out and decrease in the fall and winter. For a buyer, it is beneficial to wait until June or July to make an offer on a property. For a seller, the best time is to be ‘on the market’ is early spring.
We looked at the number of new listings. Now let’s focus on the average listing prices. The graph below underscores the steady in-crease in median sales prices, especially over the last year.
Nationwide, there were twice as many condos sold in May 2021 as there were in May 2020, according to a Realtor.com® analysis of home sales data.
When most of the country locked down in spring 2020, folks in colder, higher-tax regions of the U.S., seized the opportunity to move south to Florida. After all, a sunny state with no income tax, lower home prices, and plenty of room to “social distance” on the beach sounds far better than cold winters locked up in snow.
