Important information sellers need to know about the current market.
Today, we’re here to dive into the numbers so you can understand the market. We’ll show you how that data has changed and how things compare to last year. This all starts with interest rates, which everyone knows went up. However, they were around 7% in November 2022 but are down to around 6% now.
This has caused an increase in buyers entering the market. In the first quarter of 2023, there has been a 26% decrease in single-family homes in southeast Florida compared to the same period last year, and pending sales are down 17%.
However, the Tricoli Team sold 131 homes in the first quarter of 2023, which is a 33% increase from last year, indicating that we are outperforming the market. The average days on the market has gone up to 51 days, which is 20 days longer than the Tricoli Team's average—so we sell homes faster and for more money.
"Our team is consistently outperforming the market."
Surprisingly, despite the market having 78% more listings this quarter compared to last year, the median sales price has increased by 5.7%. If you are considering selling your home, know that it is still a great time to sell, and choosing the right team is crucial to ensure a smooth and profitable transaction.
If you want to sell your home, please give us a call today, and we will help you get the most money in a timeframe that works for you. We can schedule a free consultation for you with one of our agents to guide you through the process and show you how we can get you the most money possible for your home in this market. To hear more, call or email us anytime.