The real estate market fluctuates, creating environments that sometimes favor buyers or sellers. If it’s a great time to purchase a home or condo, you might find yourself competing against others. Knowing which climate you’re in will help determine whether now is the right time to put your house on the market or look for that dream property. However, it’s important to remember that these conditions can vary from one neighborhood to the next, so find an agent with local expertise.

The Buyer’s Market

A buyer’s market means there are more homes available than people who are looking to buy. This can be caused by an economic downturn, making it difficult for more families to purchase a house, or interest rates could have jumped. When competition is low, sellers might have to accept a lower price for their property, and often have to put more work into attracting interested parties.

The Seller’s Market

The current national real estate trend has been called a seller’s market, in which the supply of available properties is not sufficient to keep up with the demand.  If builders aren’t producing new structures fast enough, or improving economic conditions give more people the ability to purchase property, prices tend to go up. Individuals competing with one another for each available option can drive prices up even higher, an ideal situation for those with homes or condos for sale.

Although we are seeing a “seller’s market” for single family homes in the larger metropolitan areas, we are still in a more neutral category in the Destin area, especially in the vacation resort property category.  However, I see us transitioning into a “seller’s market” as inventory is declining, the amount of time a home or condo stays on the market before selling is becoming shorter and the number of serious buyers currently looking for real estate in the Destin marketplace has drastically increased over years past.  Whereas, typically the months of November and December are very slow as people are focused on the holidays, we’ve experienced no lull this year.  I am expecting a banner year in real estate sales in 2018.  If you are considering selling your home or condo, now would be a good time to contact a local Realtor.       

Since 2009, Vicki Matthews - Coldwell Banker Real Estate has helped luxury property owners throughout the Destin area put their homes on the market. As one of Florida’s Top 100 real estate agents, she and her award-winning team will ensure you get the most out of your investments. To learn more about listing your beachfront or golf course property, visit their website, or call (850) 502-9571 to schedule an appointment. You can also follow their Facebook for more tips today.