Is this a good time to Buy or Sell a Property?

Real Estate market cycles are never ending… we go from Seller’s Markets to Buyer’s Markets with Balanced or Neutral Markets in between; and the other way around. Predicting exactly when a market will shift it’s impossible, but there are several signs that indicate where it is trending. In a few I will describe each market and what you can expect…

It is important to point out that in the same area you may have pockets, price points or types of products that are behaving differently. That’s why we look at the micro-markets instead of going with the general trend when we study a specific property.

To determine the market we are in, we can look at either absorption rate or months of inventory based on closed sales. I prefer to use Months of Inventory based on closed sales… since it is the most commonly used in our area.

What is a Buyer’s Market?

A buyer's market happens when available homes for sale exceeds demand, giving buyers an advantage over sellers in price negotiations. In a buyer’s market prices may be affected, motivated sellers most likely will reduce the price to get their property sold. This is a great market for low down payment buyers or deals with more contingencies than usual.

We say that we are in a Buyer’s Market when we have More than 9 Months of Inventory based on Closed Sales.

What is a Seller’s Market?

A seller’s market refers to a situation in which demand exceeds available homes for sale, giving sellers an advantage over buyers in price negotiations. This is a market in which multiple offers scenarios are common and cash is king. In this type of market, prices tend to go up.

We say that we are in a Seller’s Market when we have less than  6 Months of Inventory based on Closed Sales.

What is a Balanced Market?

A balanced market is when there is a healthy number of buyers and sellers in the market. Housing prices tend to remain stable, sellers need to be realistic and buyers have several homes to choose from but can’t expect that low ball offers will be accepted.

We say we are in a Balanced Market when we have between 6 and 9 months of Inventory based on Closed Sales.

And now..
What are Months of Inventory? it measures how fast all the existing homes on the market would last assuming that no more listings are added and that the rate at which homes sell is a constant figure based on the average of the last 12 months of sales. (To assess sales trends, we can also calculate demand over six, three or even one-month periods.)

Just a little disclaimer…

There are different criteria to determine the kind of market we are in, but the one I mentioned: under 6 months is a seller’s market, 6 to 9 months a balanced market , and over 9 months a buyer’s market, I think is the one that reads the market better…

In summary…

In a seller’s market the seller has more control of the pricing because the supply is lower than the demand… on the contrary, in a buyer’s market, there are more properties for sale than buyers in the market.

Keeping an eye on your specific market is very important to surf the waves. If you are buying or selling you need to understand in what type of market we are, so you don’t leave money on the table.

If you want to know if a specific area or property is in a buyer’s, seller’s or balanced market don’t hesitate to contact me.

Ines Garcia PA

Miami-INES GARCIA

HER PROMISE

Working with Inés is not only about her experience, is not only about how much she cares…  it is also about passion to keep learning every day in an ever-changing industry; all this along with communication which is key and the cornerstone of every relationship.

A long time South Florida resident with a deep knowledge of the different lifestyles you can enjoy in Miami-The Capital of the Americas.

 

Positive Impact:
Her goal is to positively impact the people around her transforming the experience when buying and selling real estate in a relationship based on education and enjoyment.

Trust:
What you see is what you get… transparent relationships and a lot of communication.

Congruence:
She follows her heart and her customer’s needs and interests lead the relationship.

The REAL Customer Experience:
She applies her knowledge and experience to simplify the complexities of the real estate process for you. 

HER STORY

Born and raised in Venezuela, Ines moved to Miami in the year 2000. She owned a Real Estate Office in Venezuela for the largest network there, for 5 years prior to her moving to the USA.

Having lived in Broward and Dade, and selling in several areas, provides her broad perspective of the South Florida Real Estate Market. Currently a Downtown Coral Gables resident who enjoys everything about the city… especially the ability to walk to restaurants, the super market and around the Granada Golf Course.
 

Ines has an architecture degree from the Universidad del Zulia in Venezuela and holds an MBA from the University of Miami. Her background provides a strong foundation to share insights that help her customers make informed Real Estate decisions.

Currently a Real estate Advisor with KW Legacy. During her Real Estate career, Ines has worked both in sales and management, being the managing broker for several years with one of the largest companies in South Florida.

Previously participated in the Miami Association of Realtors as a member of the Grievance Committee, and prior to that, served on the Professional Standards Committee at the Fort Lauderdale Association of Realtors.

Ines actively participates in “Fundación Mayacuchas”, that helps organizations in Venezuela providing food and medicines along with used clothing that is distributed among the people who need it most.