Florida houses sell quickly. Owners of local residences who decided to sell their property benefit from the low competition in this state’s market. Many buyers agree to purchase units at the seller’s asking price or even pay extra.
Last year, more than 50% of home owners were able to sell their real estate at the list price or higher. In Q1 2022, this indicator surged to 67%.
This can seem normal at the moment but the number of sellers who sell their homes at the asking price has increased significantly since the start of the COVID-19 pandemic. From 2012 to 2019, only 20 – 28% of properties were sold at the list price. This number has now more than doubled.
Approximately 20% of sellers were able to sell their real estate 5% above the asking price. This piece of news may seem insignificant at first glance, but this means an additional $20,000 profit for the owner of the home that costs $400,000. So investors looking for capital gain earnings would be well advised to consider Florida residences now.