What Is a Competitive Market Analysis?

We’re often asked what a ‘competitive market analysis’ is. Basically, it’s an analysis that real estate professionals perform to come up with a price and strategy to get a home sold for the best price and on the best terms and conditions.

Selling your Florida home? Get a market analysis

Buying a Florida home? Search all homes for sale

What is a competitive market analysis, exactly? We get this question a lot. Basically, it’s our way of coming up with a pricing strategy for getting your home sold for the most money as well as on the best terms and conditions. We compare your home to houses in your area that are currently active, pending, or have sold in the last six months. 

Going back six months lets you see more data and trends.

Many people say you should only use listings that have sold in the last 90 days, but I completely disagree with that. If you look back six months, you are able to see trends in the market and get a better idea of the average days on market and use that to come up with a strategy for getting your home sold quickly.

Hopefully, that answers any questions you have. If you have more questions or you’d like more details, give us a call or send us an email at the office. We’d be happy to help!

How Does Inventory Affect Your Home’s Value & Sale Price

Housing inventory is an important piece of market data. It’s especially useful for sellers, because it tells them how much demand there is for their home. Right now, we have only two months of available inventory, putting us in a seller’s market. This means that now is a great time to sell your home if you’re looking to cash in on your equity. To learn more about how inventory affects your home sale, watch this short video.

Selling your Florida home? Value my house!   

Buying a Florida home? Search all homes for sale

One piece of market data that is essential for home sellers to examine is housing inventory. Why does the inventory level matter to the sale of your home?

Well, housing inventory is a measure of the amount of houses that are currently available for sale, but doesn’t include homes that are contingent, pending, or sold.

We have just two months of inventory, putting us in a seller’s market.

A balanced market usually has about four to six months of inventory, but right now we’re not in a balanced market. We have just two months of inventory, putting us in a seller’s market. This means that there is more demand than there is inventory, which is going to drive prices up.

We are seeing prices pretty close to what they were during the boom of 2005 and 2006 so if you’ve ever considered selling, it’s an amazing time to get your home on the market now.

If you have any questions for us, give us a call or send us an email. We would love to hear from you.

How a Seller Should Act in a Multiple Offer Situation

Selling your Florida home? Value my house!   

Buying a Florida home? Search all homes for sale

In a multiple offer situation, is the highest offer always the best? The answer is maybe. There are a few different things to consider.

The first is financing versus cash. If a buyer paid through cash, there would typically be a quicker closing and there would be no issues with appraising. If a buyer paid through financing, whatever type of loan they use (VA, FHA, USDA, etc.) would have a different set of parameters according to the discretion of the lender.

An important thing to consider is financing versus cash.

In these circumstances, it’s important that you use a professional Realtor to help guide you, because we have no emotional ties to the property. Oftentimes sellers come to us after starting the process and experiencing some bad luck because they were emotionally tied to a specific buyer for any number of reasons. Keeping our emotions out of the transaction ensures that we make the best decision possible for you and your family.

That being said, the market is currently in the best shape it’s been in nine years if you’re considering selling your house. If this interests you, give us a call at (321) 205-1010 or shoot us an email for a free home valuation and home staging consultation. We look forward to helping you.