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Months of Supply in Broward County,FL

Months of supply measures how long it would take for the current supply of homes on the market to be sold, assuming no new listings are added.

It provide insights into the balance between supply and demand in the real estate market.

"Months of supply" typically refers to the number of months it would take to sell the current inventory of homes on the market, based on the average rate of sales over a specified time period.

For example, if there are 100 homes on the market and the average rate of sales is 25 homes per month, then the months of supply would be 4 (100 divided by 25).

The term Months of Supply is used by real estate professionals to assess the health of the housing market and determine whether it is a seller's market (low supply, high demand) or a buyer's market (high supply, low demand).

It provides valuable insights when analyzing real estate market trends.

How long does it take to close a Real estate transaction?

It could take 30 days .

Real estate can be split in very different directions depending on your lifestyle, wants, and needs.

Many buyers start with a very firm, non-negotiable goal, such as a specific location, type of property, and price.

However, after viewing several houses, they may start considering other types of properties. After touring more properties, all of the sudden the area may not matter as much, and is many cases, not at all! They may simply be now focused on finding the space they want at the price they desire… where ever that might be…

The ironic legacy of Covid is the realization that people can work remotely, allowing them to choose where they want to live.

South Florida is no longer a retirement or vacation destination. Well-known brands and private capital have already chosen Miami and Broward Dade County as per The Wealth Report by the Knight Frank .

With aprox 3 months of inventory and pending demand, the residential real estate market in Broward County, FL still is a sellers' market.

No one has a crystal ball to predict the future, as we all painfully know.

If you are a seller and have already decided to sell due to your personal situation, needs, and wants, it does not really matter how the market may look 9- 12 months down the row, ..

Because you are ready to move…. now.. .

If you have to sell, you will to sell, regardless of any market condition.

The flip side of that is, if you do not have to sell, then it does not really matter how the market is performing.

On the other hand: if you are a buyer and you are pre-approved for a loan, but you decide to wait, keep in mind that there is a cost to waiting, and that cost could be in the tens of thousands of dollars. As even with current interest rates, not buying could end up costing more than what it saves.

Call me and I will show you the true cost of waiting.


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