Covid has benefitted homeowner value and potential sellers! This is not a typo.

How Covid has affected sellers:

• The not so serious sellers have taken their listings off the market or have decided to wait for more certain times to come before thinking about selling again.
• This means supply, or inventory, is at all time lows while demand remains strong.

How Covid has affected buyers:

• The Fed, in order to keep the economy stimulated, have continued to lower interest rates to historic lows.
• There is an added pent up homeownership desire from families living in condos wanting to have more space and land.
• Low taxes in Florida have only increased migration from high tax states (i.e., New York, New Jersey, California)
• High unemployment statistics do not seem to have affected the majority base of the buyer market.

Conclusion:

This has made for perfect chemistry to develop into what is a strong sellers market.

Our listing throughout Miami-Dade have been selling on average of 20 days or less.

We continue to practice and be responsible towards social distancing measures in order to make the home selling and buying process as safe and comfortable as possible.

Call or text us to talk more about how we can help you with your next move.

This update is brought to you by Jon Gilman, a specialist in Coral Gables homes for sale. Whether you’re interested in buying a condo in Coral Gables or a single-family home in Coral Gables, or in the surrounding Miami areas like Pinecrest, South Miami, Schenley Park, and Downtown Dadeland, contact Jon to assist you in discovering why the city is among the most valuable and in-demand in South Florida. Call 786.486.9560 with any questions on Coral Gables Real Estate.