Contrary to conventional wisdom concerning Indian River real estate in the summer, the last two months have been very busy for The Star Team! We have sold or put under contract a lot of homes in just the last couple of weeks!
Why is the Vero market as hot as the air outside right now? It’s a combination of factors. First, we do have a tendency to overestimate how much the market will slow down in the summer. Certainly, there are fewer of certain kinds of buyers (snow birds). But summer is still a good time to sell your home in Vero under certain market conditions. And those conditions are definitely in evidence this summer.
One of the primary drivers of the current market is the availability of financing. While we might have expected rates to have gone up more this year, it hasn’t yet materialized. In fact, they have declined somewhat, from a high of 4.3% in March to 3.96% today. The rates have begun to inch up again, however, so this opportunity may be short-lived. https://ycharts.com/
Readily available and affordable financing drives buying activity. Sellers, however, have another market advantage right now and that’s the continuing low supply of available houses. Lower supply tends to drive up sales prices. And when you combine that with the availability of inexpensive financing, that improves the seller’s position even more.
So, why sell now? One reason is that market conditions are never guaranteed to continue. A favorable market today can cool off as the underlying economic conditions change. Second, there is less competition during the summer. Other sellers are buying into the convention wisdom that summertime is not a good time to list your home for sale in Vero Beach. Their assumptions can work to your advantage.
Contact The Star Team and share in our success this summer. We know how to position your home in this market to sell quickly and for more. Call us today for a free evaluation of the value of your home in this exciting real estate market! 772.321.7644 or click on the image below to find out how much your home is worth in today's market.