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We're often asked how the market is doing, because a lot of the people we work with are second homeowners and also owners of investment properties. This is a tough thing to pinpoint exactly, but I have a few pieces of information that I could share with you.
First of all, high end properties are seeing a lot of activity right now. This goes for homes that are valued over $1 million. I believe this surge of activity in these higher price points stems from higher affordability and the fact that CEO's and other business owners are doing quite well in this economy. They're buying homes right now with their extra income.
At the other end of the spectrum, we're seeing a lot of investors buying up properties in the $300K price bracket and below. These investments will primarily be used as rental properties.
Lastly, the middle price bracket (homes valued anywhere from $300K-$900K) is performing slower than the others. This is probably being spurred on by the fact that the people that would normally buy these homes are a little uncertain as to whether they should purchase. They may be figuring out their 401K or trying to plan a secure retirement. Luckily, interest rates are low and when the economy comes back I think we'll be seeing a lot of activity in this area of the market.
Overall, there are always buyers and sellers for homes that are in good condition and staged well. If you're looking to either buy or sell, then now is the time to do so. We're seeing a busy spring market emerging, and low interest rates will be pushing a lot of buyers onto the market. You don't want to miss out!
Please contact me if you need any assistance with real estate in Emerald Coast!
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