A Quick Look at the Market
I try to spend a little time every morning reading the different publications that are available to us as agents in the real estate market. Due to the fact that our market here along 30A is not typical of the overall condition of the market nationally, there are not many articles that pertain to the 30A market. Here are a few thoughts from an article I read recently.
Brad Hunter, chief economist for Metrostudy, a national firm that tracks real estate market trends has great info on the Florida market. Here are the highlights of his article; Residential lot prices have spiked here in our area. Builders are trying to replenish the market with new housing after the glut from 2006 that caused prices to plummet. Building supplies, combined with lot price increases is causing a rise in new home prices as well. As prices continue to creep upward, existing homes in our area will begin to hit the market and that will have a leveling effect on prices as well.
What this means is that, yes, prices are beginning to rebound and, in the long run, that is a very healthy trend. Do not get panicky about prices rising at unsustainable levels like they did in the early 2000’s. Now is still a great time to buy real estate. Homes On 30A is having a banner year and we expect sales to continue to be excellent.
Homes on 30a LLC