Buyers Under Pressure as Homes Continue to Sell Quickly ☘ Hoey Team ☘ exp Realty 🌴 Southwest Florida 🌴

Dated: November 6 2020

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House hunters who see a home they like should consider making an offer quickly or risk losing out. Homes in October sold 13 days faster than a year ago, an unseasonable trend, a new report notes.

This also marks the first time since 2011 that the pace of sales has accelerated from September to October, “signaling buyers continued to face tough competition in this anything but normal year,” according to realtor.com®’s Monthly Housing Trends Report.

Among the nation’s 50 largest metro areas, homes spent an average of 45 days on the market. The metros where homes sold the fastest compared to a year ago are:

  • Hartford, Conn.: 23 days faster than a year ago
  • Virginia Beach, Va.: 22 days faster
  • San Diego: 20 days faster

“In the fall, we normally see homes sell more slowly and prices pull back from peak levels,” says Danielle Hale, realtor.com®’s chief economist. “But this October, we saw a drop in the time it takes to sell a home even while home prices remain at their summer peak. Drawn in by low mortgage rates and the hope of more space, buyers have stayed in the housing market this fall, keeping prices high and pushing time on the market to unseasonable lows.”

The number of homes for sale is down 38.3% nationally. The metros with the largest declines in new listings compared to a year ago are Nashville (down 27.5%); Charlotte, N.C. (down 22.9%); and Richmond, Va. (down 21.8%). However, there is a slight indication of turnaround in inventory in sight, realtor.com®’s report says. Newly listed homes are down 7.7% compared to a year ago. That is a “substantial improvement” from September, when new listings were down 13.8%, realtor.com® reports.

Realtor Magazine 2020 11 06 Metros with the largest number of new listings snapshot since the covid plandemic started after going through the Coronavirus Pandemic Hoey Team eXp Realty

Here in Southwest Florida 🌴 as people continue to move here from other areas, inventory remains low overall, but we continue to list and sell real estate.  At our Hoey Team ☘ and Brokerage, we have been succesfully working 100% virtually / remotely for the past number of years as we grew; i'm glad we already had systems in place to better help sellers and buyer.

Article content from our NAR (National Association of REALTORS) Newsletter Magazine, and from other sources including Hoey Team ☘ eXp Realty; Freddie Mac and others

For those Living in or Visiting Southwest Florida wanting additional resources, or a list of places to see / visit:   www.VisitCollier.Com      Feel free to share this resource page with others  🌴

NOTE for Buyers and Sellers: On our Hoey Team â˜˜ VIRTUAL OPEN HOUSE Page you may WATCH ? Detailed HD 3D Immersive VIDEO ? Walkthrough Tours for all our COMING to MLS & AVAILABLE LISTINGS right HERE: ? www.SWFLVRE.com  ? 

For more Real Estate related information, or if you have questions on any aspect of Buying, Selling, Upsizing, Downsizing, Moving within or Relocating to or from Florida (the number 1 state for people to move to), or on any aspect of the Real Estate Market, Locally, Nationally or Internationally, please let us know, we can help, we can address / answer your questions, and we are always available to help you or someone you know.

P.S. --> If You'd like for us to create a Video Tour for ANY of the Properties on our website, just CLICK "Video Request Button"; from property details https://HoeyTeam.239RealEstateDeals.Com

CLICK HERE to Visit our High Definition Virtual 3D Open House Tours Page 24/7

Click Here for our most recent Market update Report for Southwest Florida and beyond.

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Here is our informational Southwest Florida Website ☘

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Also; please check out the other blogs, and tabs to many other Links, Updates, Reports & Stats that we have here on our informational website.  â˜˜

We hope that you find the information useful.  If you have any questions, please do not hesitate to contact Barry or Kim with the Hoey Team â˜˜ brokered by eXp Realty

Email us at Barry@SWFLLuxury.Com  or KimZuponcic@Gmail.com or Call/Text the Hoey Team ☘ at:  (239)-360-5527 

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Most of our business is referrals by word of mouth; from past Sellers and Buyers who we have helped; please ask for and check out our testimonials and Sales Stats.  Thanks, Barry & Kim â˜˜

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"Your Real Estate Concierge" If you are looking for a REALTOR® or one-stop Real Estate Team who will fully communicate; promptly, professionally, and in detail with you, to efficiently help you wit....

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