My first year as a real estate agent has been very successful. I have sold almost $5,000,000 worth of real estate, and with all this practice, it has really opened my eyes to what the real estate market is doing for buyers and sellers.
Here are a few fun facts to start off:
1) The number of active listings is dramatically lower than this time last year.
2) Appreciation of property value is still driving towards an upward trend ever since 2012.
3) The number of homes sold in Leon County is following the usual downward trend to the end of the holiday season.
The real estate market is definitely a seller’s market right now. A well-priced home in a good location does not last long on the market and has the potential of receiving multiple offers. More than 50% of the transactions I work on have had multiple offers. This means a few different things:
1) Buyers need to act quick. If you want the house, don’t delay as someone else could bring an offer. It could become a “highest and best offer” situation, which means you will have to up your original offer in order to win the bid.
2) Sellers are happy. Multiple offers generally mean higher offer price.
3) Realtors are working hard to find those new listings as soon as they hit the market that fit their buyer’s criteria. We don’t want our buyers missing out!