By Brett Ellis
Thank goodness we’ve been busy listing and selling a lot of property lately. The 360-degree home tours and advanced marketing we’re employing to go out and create buyers for our listings is working. We have noticed a trend recently we thought we’d try to clear up. SW Florida home sellers are confused when they read headlines that home prices were up 11.3% in August. They’re interviewing agents and they aren’t hearing the higher prices they were expecting, so they’ve called us out to verify what’s really going on in the market.
We decided to present the chart in a different way. Agents have been telling sellers there’s been a shift since we reported on it back on February 16th. Sellers aren’t seeing it though because they read the headlines. It is true, median prices are up 11.3% over last year. However, they are down $5,000 from last month and down $2,000 from where they were last November.
Unless home prices rise in the next few months, we’ll be looking at essentially a flat line since last November. In other words, home prices aren’t statistically rising right now. The rise occurred last year …read more
Source:: Top Agent