As your neighborhood real estate expert, I just wanted to share an article from Thestreet.com with you and give you my opinion as it relates to South Crestview.

The first point in the article talks about inventory and how it is shrinking. This is true for our area as well. We have gone from almost 7 months on market to just over 6 months for the last 12 months. I expect to see that number dip under 6 months with the growing demand this spring. The average sale price has increased $3,750 over that same time as well,  and the days on market saw a substantial drop from 145 days to now just 91 days on market.

The second point in the article speaks to what happens with shrinking inventory. Many buyers are being driven to new construction. We aren’t seeing this trend in South Crestview, mostly because there aren’t many lots left on which to build. I am finding that existing sellers are enjoying more activity due to a lack of new home inventory. This is not the case in North Crestview, so being in South Crestview is a big benefit at present.
The third point of the article speaks to the benefit of purchasing over renting due to the high demand for rental property. After the Great Recession many homeowners were caught up in the aftermath and lost their good credit. The result has been a new influx of renters. This has caused rental prices to skyrocket in the area, driving renters into home ownership in an effort to balance their monthly budget.

I see a great year for my sellers in South Crestview due to these developing factors. If you are thinking of selling your home please let me know and we can set up a no-obligation meeting to discuss your options and current home values.

Here is a link to the article posted on thestreet.com 


http://www.thestreet.com/story/13535000/1/3-real-estate-trends-to-watch-this-spring.html