News for Sellers
The residential market for homes for sale in Saint Augustine Florida continues to look good for sellers. The number of closed sales declined slightly by 2.9% from the 1st qtr in 2013. This is due partly to the low inventory volume we are currently experiencing. The number of closed sales is 10% higher than it was in 2012.
The best news for sellers is that the average sales price continues to climb. It is currently at $209,821. That is an increase of 4.14% over this period last year. Also the average days on the market are declining.
News for Buyers
Due to interest rates on the rise it is important for buyers to act now. Buyers have less purchasing power than they did a year ago. If the market continues this trend a buyer will have more purchasing power now then they will a year from now.
For example:
Today, a buyer can finance a $250,000 house at 4.22% interest. That will make the monthly payment roughly around $1,255.46. A year from now that same buyer will finance a $250,000 house at 5.3% interest and the monthly payment will be roughly $1,388.26. By waiting, this buyer just lost $162.80 in purchasing power. This will knock some buyers out of qualifying all together.
Overall Market Conditions
The overall inventory of available homes is extremely low. This is driving prices up and can even causing bidding wars on certain homes. It is projected that due to the harsh winter this past year Florida will see and increase in the buyer market thus putting more of a strain on the lower inventory. Don't get left out in the cold.
Overall, every line item statistic is looking very good in that the available inventory continues to shrink and buyer demand is still currently strong. Buyers, if you have been waiting for the best price and best interest rate, you need to act now. Prices are going up and so are the interest rates. Don't get left behind. Any of the members of Team Johnson of Watson Realty Corp would welcome the opportunity to find you your new home.
Sellers/Owners if you have been waiting for the market to rebound so you can sell, the time might be now. Many Floridians have already seen and increase in the value of their home. Want to know where you stand? Call Team Johnson of Watson Realty Corp. We perform detailed reports for you so that you know exactly how much your home is worth. This will help you determine whether now is the right time to sell. We put our customers best interests ahead of the sale.
Team Johnson
Watson Realty Corp
St. Augustine, FL 32086
904-495-0146
Click Here to Search the MLS Like an Agent
View My Website
Click Here to Email Me
The residential market for homes for sale in Saint Augustine Florida continues to look good for sellers. The number of closed sales declined slightly by 2.9% from the 1st qtr in 2013. This is due partly to the low inventory volume we are currently experiencing. The number of closed sales is 10% higher than it was in 2012.
The best news for sellers is that the average sales price continues to climb. It is currently at $209,821. That is an increase of 4.14% over this period last year. Also the average days on the market are declining.
News for Buyers
Due to interest rates on the rise it is important for buyers to act now. Buyers have less purchasing power than they did a year ago. If the market continues this trend a buyer will have more purchasing power now then they will a year from now.
For example:
Today, a buyer can finance a $250,000 house at 4.22% interest. That will make the monthly payment roughly around $1,255.46. A year from now that same buyer will finance a $250,000 house at 5.3% interest and the monthly payment will be roughly $1,388.26. By waiting, this buyer just lost $162.80 in purchasing power. This will knock some buyers out of qualifying all together.
Overall Market Conditions
The overall inventory of available homes is extremely low. This is driving prices up and can even causing bidding wars on certain homes. It is projected that due to the harsh winter this past year Florida will see and increase in the buyer market thus putting more of a strain on the lower inventory. Don't get left out in the cold.
Overall, every line item statistic is looking very good in that the available inventory continues to shrink and buyer demand is still currently strong. Buyers, if you have been waiting for the best price and best interest rate, you need to act now. Prices are going up and so are the interest rates. Don't get left behind. Any of the members of Team Johnson of Watson Realty Corp would welcome the opportunity to find you your new home.
Sellers/Owners if you have been waiting for the market to rebound so you can sell, the time might be now. Many Floridians have already seen and increase in the value of their home. Want to know where you stand? Call Team Johnson of Watson Realty Corp. We perform detailed reports for you so that you know exactly how much your home is worth. This will help you determine whether now is the right time to sell. We put our customers best interests ahead of the sale.
Team Johnson
Watson Realty Corp
St. Augustine, FL 32086
904-495-0146
Click Here to Search the MLS Like an Agent
View My Website
Click Here to Email Me
