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The Latest Update from Vero Beach Real Estate
April 02, 2021 at 11:50am | Kelly Fischer
Here’s what has been going on in our local real estate market.
As you probably know, buyers are flocking to Florida in droves from all over the country trying to buy either primary or secondary properties. Right now in Indian River County, we have 463 residential homes for sale, which is about 20% of what we’d
normally have this time of year. On top of that, 438 homes sold last month, meaning the absorption rate is almost 100%.
If someone wanted to build a new home in this county right now, the majority of builders wouldn’t take a reservation to build it. They can’t accurately calculate what it will cost them to build a home, which means they can’t sign a contract to sell
it to you. Essentially, most new home builds have been put on pause.
I mention this because if you’re thinking about selling your home, you have virtually a 100% chance of selling it. However, there are a few things that you need
to be careful of. For example, don’t underprice or overprice your home. Many think it’s not possible to overprice your home in this market, but it is. If you do, one of two things will happen: 1) you won’t get any buyers, or 2) the home won’t
appraise for enough if there’s a loan involved.
Sellers have a high chance of success and almost no competition.
If you do sell, you will have almost no competition. The number of buyers far outweighs the number of sellers in the market. Now is a great time to look into what we could get for your home ; chances are you’ll be surprised at its value.
If you’ve even been floating the idea of selling a house or have questions about it, reach out to us. We’d love to share what we can do to maximize the sale price of your home and minimize the inconvenience of selling it.