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Wednesday, August 19, 2015

Is The Time Right To Sell Your Home? Signs are not a sign of the market.

I recently posted an article encouraging prospective home buyers in Brevard County, Florida to get off the fence.   I think sellers should consider this same advice as well.

Prices have risen.  Interest rates are low.  These are good signs for sellers.

Another excellent sign for home sellers... competition is down!

With the current median days on the market for Brevard County, Florida home sellers at about 30 days your house will move quickly if marketed appropriately.   And it will command the best price possible if it is prepared properly.

Although you may hear that inventory is down you may see a lot of signs when driving through various neighborhoods. To illustrate, signs are not a sign of the market state.

How many active listings are there in some of these popular Rockledge and Viera, Florida neighborhoods?
  • Phillips Landing - 1 
  • Plantation Point - 5  
  • Fairway Lakes at Viera - 6 
  • Auburn Lakes - 1  
  • Sonoma - 5  
  • Ravencliff  - 4  
  • Indigo Crossing - 2 
  • Wingate Estates - 5  
  • Gatwick Manor - 1  
  • Daintree - 4  
  • Eason Landing - 0  
  • Bayhill - 2 
  • Chelsea Park - 4  
  • Ventana - 1 
  • Somerville - 1
The above numbers were extracted from the Brevard MLS system today.
If you drive through any of the above neighborhoods you will see more signs than listings noted.  That is because there are homes under contract as well awaiting closing.  Real estate agents often leave their sign out front to capture lead calls even if the house is under contract.

There are at least 30 pending or contingent listings in the above neighborhoods.  There are 42 active listings in the above listed subdivisions.  Assuming a sign is on every property there should be about 72 total signs.  This equates to about only 4 in 10 signs in these developments is actually "on the market."  Put another way....signs are not a sign of the market.

As a seller,  the signs and activity may be the draw to a neighborhood but you are only competing with about 40% of the signs!   This is definitely a sign (pun intended) that the Rockledge and Viera, Florida markets favors a motivated seller. 

Ready to sell your Viera or Rockledge, Florida home?  Call me at 321-693-3850 or send me an email to get going!

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