Survey shows Real Estate market favors sellers
By Josh Salman, Herald-Tribune
Home sellers across Southwest Florida are sitting on the sideline because they either still haven’t gained enough equity to break even on a boom-time purchase or they’re simply in no hurry and believe prices will continue to go higher.
But one of the nation’s largest real estate franchisors says now is the time for homeowners to make their move.
The lack of new listings to enter the market during the past year, coupled with strong buyer demand, has shrunk the inventory of homes for sale in Sarasota down to just 3.2 months’ worth – a figure that historically favors a seller’s market.
A new survey by Century 21 affirms the notion that sellers now have the clear advantage.
The Spring Home Selling Survey found sellers are now finding themselves in positions where they are getting multiple offers, giving them the opportunity to pursue only the best bids.
In fact, 42 percent of those searching for homes have made an offer in the past six months, yet only 11 percent have had their offers accepted, according to the survey.
Also, 85 percent of home searchers are willing to go above and beyond to force the deal through, another 85 percent of buyers are willing to compromise on amenities or features, and 88 percent are willing to compromise on location-related attributes.
All of that makes for a strong seller’s market, the survey suggests.