As some of you may know that the South Florida housing market was booming for much of 2020 and we can say it will continue in 2021.
The current scenario in the South Florida Real Estate market is high demand and low inventory. Single-family homes have been going off the market at a fast pace with many sellers getting offers above asking price.
Buyers are being left without many options to choose from and having it to wait longer to find an available house to make an offer.
With the strong seller’s market, the price rising may be bad news for some but for many it is music to the ears. Learning to compete with other buyers in the current market is something everyone will need to learn and adjust.
We encourage buyers to take advantage of the low interest rate currently at a historic low.
With low interest rate just a small portion of your monthly payment will be put towards interest. Meaning you being able to afford a little bit more house than you might in a higher rate situation.
According to recent research and real estate professionals 2021 is a very promising year for South Florida Real Estate.
With the low supply of homes this means that sellers will have the hands of negotiation making South Florida Real Estate a Seller’s market in 2021.