My last blog entry gave an insight and my personal experience in the Real Estate market in the height of the Covid-19 lockdown in South Florida. Since then, the market has not slowed down, on the contrary, property prices are increasing and days on the market are decreasing.

In the cities and communities where I am specializing in, Deerfield Beach, Parkland, Coral Springs, Margate, Fort Lauderdale, Boca Raton, and Delray Beach, I am seeing record transaction volumes. This increased volume is not only by price, but also by days on the market. This is true for the entire spectrum of the market from starter homes to multi-million-dollar mansions.

Having been invited to a national Real Estate video conference from Coldwell Banker Realty, a week ago, I was in awe over the overall consensus from the Top Producers, that the market is hot, hot, hot. These agents experienced transaction and sales volume increases, compared to the same time last year of over 10 -15%. Sunbelt Tile Company one of the closing and title agencies I am using for my transactions, also told me their business is through the roof.

What does this mean for Buyers and Sellers?

As we have seen with recent events, nobody can predict the future, but with my 25 years’ experience and the current reality of the real estate market in South Florida, I can only say “ Real Estate is Booming”

Sellers

If you were considering selling your house before Covid-19, do not wait to list your house with a reputable Real Estate agent. Properties currently on the market are literally selling in days not weeks or months. Historically low interest rates are making home ownership a reality for many buyers searching for a new home. This demand is why listings are under contract in days!

Buyers

In the current environment, buyers do not have the luxury to sit at the sideline and wait for a price reduction. A lot of my listings are getting multiple offers at full price with no contingencies.

I hope my firsthand experience and expertise can help you to make the right decision for you!

Carolyn