How is the 2017 real estate market doing so far? We’ll take a look at the latest numbers from the Vero Beach market to find out.
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The first month of 2017 has come to a close. We had a great year last year but today, I want to tell you a little bit about the market stats in our area.
As of today, there are a little over 1,500 residential homes available for sale. In the last 30 days, there have been 180 home sales. These numbers determine the absorption rate, which tells us how many homes are selling compared to what’s on the market. The absorption rate also tells us whether we are in a buyer’s market or a seller’s market.
As of right now, we have eight months of inventory on the market, which means we are staying in a buyer’s market. That could be a trend or that could just be a blip; we’ll keep an eye on that for you. Since interest rates will continue to rise, we could be headed into a buyer’s market. If you’ve been on the fence about buying a home, it may be time to jump into the market and plunge into homeownership.
If you’ve been waiting to buy a home, now may be the time to take the plunge.
In the year ahead, we are committed to helping you achieve your real estate goals. We have never been more committed and we have never had a stronger team. This week alone, we put six homes under contract, which is pretty cool, especially since the average agent will sell four homes all year long.
Yesterday, we had the Sotheby’s award ceremony. Our team won number one in Closed Transactions for the fourth year in a row! We also won number one in Closed Transactions for Indian River County. We couldn’t do it without you. Thank you for working with us, and thank you for your trust and your referrals.
If you have any other questions about our current market, give us a call or send us an email. My team and I would be happy to help you!
