Thinking of selling your home in 32963, Your strategy is gonna be very important for 2020.
Hi, my name is Scott Reynolds and I’m the team leader of The Reynolds Team at ONE Sotheby’s. And it kinda sounds unique, saying ONE Sotheby’s because it’s always been Treasure Coast. It’s still the same great International Sotheby’s quality that you would expect. However, now the ownership of our company ranges from Melbourne all the way down to Miami, bringing us lots of new tools and resources. I’ll explain all the details of that on another video.
Today what I want to discuss for specifically 32963 going into the 2020 market.
But I was just reflecting on the year, November versus November of last year for single-family homes and when so on the Solds, the amount of homes that sold was flat. It was the same amount, ironically, 27 homes sold in 2019 versus November of 2018. The number that jumped out to me was Under Contracts which went up 40% and then the amount of homes that are available went down about 21% so that puts us right around 385 homes available. Two other points I want to make: the average sales price was up 8% so the average sales price for 32963 single-family homes was at $580,000 for the average home that was closed.
What does all this mean?
All the good news that’s being reported today we still have about on average about 32 homes that sell a month and when you have about 385 homes available, no matter how you do the math, there’s about 10 months of inventory. So if you’re a seller, a higher price or medium price did go up.
But as a seller, what will help decrease market time, and actually can increase your net proceeds, is really taking some time and attention on prepping the House, getting maybe some light staging one, taking care of some of those nagging repairs that maybe you know that you’ve kinda needed to do, but you know been putting off. And then the second thing is your pricing strategy. There’s two main strategies that I see practiced in the marketplace. There’s a little bit of needle in the haystack price-like “Hey. If I get my price, then I’ll move!” Those are tending to take more time on market and sometimes can actually net less money. The second strategy is really focusing on what the home should sell for and pricing. Get the professional photography, get all the video work done, get the home prep, and price it with a small margin above what it should sell for and it creates an enthusiasm in the marketplace and it creates the momentum with the buyers to make a move because they’re afraid that someone else is going to buy it because it checks all the boxes for them. So those are the two main strategies that I’m seeing that’s making the homes sell.
If you’re a buyer, interest rates are still below 4%, which is really really phenomenal and on your side, the inventory is there’s about 10 months of inventory, so you can really take your time and learn the different lifestyles in our community. So as we’re moving into the next season here in Vero Beach, and it’s the next decade, it’s 2020! I am meeting with more and more people that are making life changes and moving to their next chapter. Whether that’s a seller that is moving back closer with family, or growing their family and staying in town, or a buyer that is a retiring from their job up North and moving into the Vero Beach area-so whatever chapter you are in for this new decade of 2020, The Reynolds Team would love to be part of it to help you through all the different strategies that are available of making all those big decisions.