Fewer Days On market
Good news for sellers, the days on market time is shrinking. A new measure shows the typical amount of time it takes to sell a home is about 6 to 7 weeks, a notable shortening of time on market began this spring. As inventory has tightened, homes have been selling more quickly. This is great news for sellers who tried to sell before, if you hire a good to great agent who can price it right, you can get your property sold. Factoring out short sales, the median time on market for traditional sellers appears to be in the balanced range of six to seven weeks. Buyers are in a desperate hunt for the "regular" sale. When they are ready to buy and set out to search, they don't want to wait. They want the house now. Waiting on a short sale approval can squash the excitement of home ownership. The time it takes to sell a home currently – 69 days in July, down 29.6 percent from 98 days in July 2011, according to NAR.
To The Buyers
And here's a piece of good advice for you new buyers just entering the real estate market, there are buyers that have been watching the market for months maybe years. They have their eye on the neighborhood they want to purchase in, the communities they want to raise their kids in. They have searches set up to alert them on their phones for goodness sake. They get a chime when a new home is listed, the minute it's listed and they call their partner and drop what they're doing and run out to check it out with the contract already written to present it to the seller. So, don't waste time.
Don't get discouraged, get in the game. Because purchases made today will make money 5 years or so down the road. It's the smart money moving now. This is the time to jump in and be aggressive. There was a home in Pine Ridge of Coral Springs, 8442 NW 47th Dr. that went on the market July 10th of this year and had a contract on it August 21st. That's only 41 days! on the market. Another Coral Springs home in Cypress Glen, 11223 NW 1st Pl, went under contract in 13 days. Gone are the days of looking at 50 houses or more and then taking months to think about it. Some properties have multiple offers before you back out of their driveway.
If you are looking to buy in south east Florida and want an agent that knows the area, knows what is on the market at all times and can get your offer in front of the seller quickly, please call me, Terri Poehler at 954-294-3937 or email me at TerriPoehler@Remax.net to find out more of what's going on in your local real estate market.
Here is what is currently on the market right now in Coral Springs Florida. This is kept current every minute.