Florida Still Sellers Market

Florida Still Sellers Market is the title on this picture and the background is a beach picture.

Florida Still Sellers Market

Florida Still Sellers Market in 2023.  As the U.S. housing market continues to experience high home prices.  Additionally, there’s elevated mortgage rates.  The 2023 Knock Buyer-Seller Market Index has some predictions.  It’s looking like homebuyers will gain a slight advantage in the coming year. The Index evaluates critical housing market data.  This determines whether the largest 100 markets in the country favor buyers or sellers.

According to the latest Index, the Mississippi River acts as a dividing line in 2023. The top five buyers’ markets are located to the west and the top five sellers’ markets situated along the East Coast. This shift is due to the reality of rising home prices.  Also the interest rates eating into purchasing power. As a result, cities that experienced rapid price growth during 2021 will now start to favor buyers. Meanwhile, markets that offer a good job market and affordable housing will perform well in 2023.  Moreover this will be creating a more balanced housing market overall. However, the home-buying experience will vary depending on the location.

Florida Still Sellers Market:  Current Data

The latest data from the November 2022 Buyer-Seller Index reveals that 80 of the largest 100 housing markets saw an increase in inventory. Also, all but two markets leaned toward favoring buyers. Throughout 2022, the top buyers’ markets were primarily located west of the Mississippi.  These areas saw home prices rise at a faster pace compared to the rest of the nation. The top five buyers’ markets saw prices increase by an average of 44.6% between January 2020 and November 2022, compared to 34.9% for the rest of the country during the same period.

No Florida city made the top 25 list of buyers’ markets because demand is still high.  With home prices and interest rates having a significant impact on purchasing power, homebuyers will have to carefully consider their options in 2023. The Knock Buyer-Seller Market Index provides valuable insights for those looking to navigate the housing market, offering a comprehensive look at the trends and conditions affecting the market.

Homes For Sale St Petersburg FL

As per the latest market trends, Florida’s metropolitan areas are among the “top 25″ for a seller’s market. As per the November 2023 data, home sales in the state’s top metropolitan areas like Tampa-St. Petersburg-Clearwater, Deltona-Daytona Beach-Ormond Beach, Orlando-Kissimmee-Sanford, and Jacksonville are declining, with a decrease of 5.5%, 6.9%, 7.6% and 7.6% respectively. However, the prices of homes in these areas are on the rise, with an increase of 9.9%, 3.3%, 6.7% and 1.4% respectively.

The top seller’s markets are likely to see an increase in home sales by 5% to 18% in the next 12 months.  However,  that’s not the case in Hartford, Connecticut, where there’s a projection of  a dip of 1.7%. On the other hand, home sales for the rest of the nation are likely going to decline by 16.3% by the end of 2023.

Florida Still Sellers Market:  Home Prices Set To Rise

The median home price in these markets is predicted to rise by 8.3%, compared to the less than 1% increase expected for the entire country. On average, the days on the market will be 15 days, which is half of the 30-day forecasted national median, while the average months’ supply will be just one month, compared to 3.1 months for the 100 largest markets in words written on this picture.  The background is a beach scene.Florida

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About the Author

Raised in a family of creative entrepreneurs, Aaron Hunt, Realtor St Petersburg FL, guides his clients with the same irrepressible spirit he was surrounded by as a kid. A Florida transplant, Aaron relates well to the out-of-state buyers, retirees, and vacation home-dwellers who make up the bulk of his clientele. He makes no secret of his love for St. Petersburg and its neighboring cities and towns, and it fuels his passion for helping buyers find their dream home.

Originally from the San Francisco Bay Area, Aaron grew up on the West Coast. His family owns hotels throughout California, Idaho, and Las Vegas, which has shaped Aaron’s eye for detail and his mind for business. In his subsequent career in the spa industry, he established a high bar for client service designed to cater to every discerning taste. From pampering spa customers to tending to real estate clients, Aaron knows how to take care of people.

Realtor St Petersburg FL:  Exceeding Expectations

By limiting the number of clients he represents at any given time, he ensures his undivided attention, absorbing every detail so he can deliver outstanding results and exceed expectations. Aaron co-founded Avalon Group, Realtor St Petersburg FL, in 2014 and grew it into the top-rated real estate team in St. Petersburg and Tampa Bay out of over 10,000 agents. Some of Aaron's greatest strengths are organizing and leading complex projects, making deals happen, and driving profit.

Aaron negotiates deftly for his buyers’ ideal homes.  Furthermore,  he attracts multiple enticing offers for his sellers’ properties.   Aaron prepares meticulously for every transaction, thoroughly covering every detail so clients encounter no surprise. He also relies on his dynamic support team and vast professional network to ease every facet of a transaction.  Additionally he makes sure to fulfill specific client needs. Aaron, a broker associate and Pricing Strategy Advisor, satisfies his competitive streak when everyone wins.

Realtor St Petersburg FL:  Living the Tampa Bay Lifestyle

Aaron has been a proud Florida resident since 2013. There’s always something interesting to do in St. Petersburg, and Aaron relishes it, exploring the city, traveling, hiking, biking, and visiting with friends. He also enjoys trying new restaurants in the region, especially in neighborhoods where he has homes listed. Aaron takes time to give back to his community by supporting St. Pete Pride and other annual festivals throughout the area.