Blog Post 004: Is The Market Cooling Off?​

Signs that something is shifting in the market this month:

-Price drops
-Longer duration on market
-Crickets at open houses
-Fewer offers on the table
-Sellers accepting at or below list price

A major contribution for these changes are the rising mortgage rates..

However, with that, prices remain high in Florida.. here’s just a few reasons why:
– Low taxes compared to other states
– Property values & cost of living is lower than high value states like California and New York
-About 900 people move to Florida per day
-$13 billion in new development projects are underway in Tampa
– Tampa-St / Petersburg Population is projected to grow more than 20 percent by 2030
– Florida’s unemployment rate has remained below the national rate

Everywhere we go, whoever we talk to, when we say “I’m a realtor” they all say the same thing.

“What do you think is going to happen with the market?”

And our response goes a little something like this..

“Well no one could predict the pandemic so I’m unsure if anyone can truly predict what’s going to happen next. But what we do know, is Florida is strong from the job force, development, to population growth. There likely won’t be significant improvement in prices here. However, we are flexible and ready for whatever happens next. Just as we had to pivot and learn new ways to help our buyers win, we’re willing to do what it takes to help our clients in whatever scenario is presented to us in this ever changing market.”