Скачать или смотреть Home Listing Inventory Is Up 64% YTD | Carpenter Kessel - Compass | Brevard County Real Estate

Welcome to our series "State of the Marketplace" - May 2024, Episode 37.

In the latest episode of State of the Marketplace, "Home Listing Inventory Is Up 64% YTD," Dewayne Carpenter and Kirk Kessel dive into the current real estate trends in Brevard County and Melbourne. They discuss the significant rise in home inventory, with a 64% year-to-date increase, and analyze the impact of fluctuating interest rates, which have oscillated between 6.99% and 7.4%. They highlight the rise in price reductions, the median days to sell homes, and the crucial importance of accurate pricing and effective marketing. The episode also touches on the challenges of affordability in today's market, with mortgage applications at their lowest since 1995, and emphasizes the continued importance of strategic pricing and representation in navigating the dynamic real estate landscape.

Dewayne & Kirk's Top 15 Takeaways:

1. 5% Inventory Increase: There was a 5% increase in listing inventory between April and May.
2. 64% Inventory Rise YTD: Inventory is up 64% year-to-date compared to the same time last year.
3. Price Reductions in Melbourne: In April, 49% of homes on the market in Melbourne had a price reduction. This increased to 54% in May.
4. Interest Rate Fluctuations: Interest rates fluctuated from 7.4% at the start of May, dropped to 6.99%, and are now back up to around 7.4%.
5. Affordability Challenge: 40% of current homeowners would not be able to afford their home if they bought it at current prices and interest rates.
6. Low Mortgage Applications: The number of mortgage applications is at the lowest level since 1995.
7. 72% Mortgaged Homes: 72% of all homeowners in Brevard County obtained a mortgage last year.
8. Median Days to Sell: The median days from listing to contract is currently 35 days, which is 60% longer than last year.
9. Price Sensitivity: The market shows a high degree of price sensitivity, as evidenced by the increase in price reductions.
10. Urgency and Visibility: Homes are most valuable and receive the highest visibility on search platforms the day they hit the market. Urgency and perceived value diminish over time.
11. Importance of Accurate Pricing: Accurate pricing from the start is crucial to achieving a home sale.
12. Effective Marketing and Representation: Having proper representation to attract buyers and effective marketing are key to successful home sales.
13. Historic Context: Although 35 days to sell is longer than last year, it is still considered quick by historical standards.
14. Spring Selling Season: The spring season sees a significant increase in both sellers listing their homes and buyers entering the market.
15. Dynamic Real Estate Market: The current market dynamics underscore the importance of strategic pricing and marketing to navigate price sensitivity and fluctuating interest rates.

Accurate pricing is one of the key elements to selling your house. The other is great representation and marketing.

Learn why that matters to sellers and buyers, and how they achieve real estate success with the CK Team.

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Melbourne FL Real Estate Agents Specializing in Luxury Waterfront Homes for sale in Brevard County & the Space Coast.
dewayneclydecarpenter, kirkkessel, carpenterkessel, compassrealestate , spacecoastrealtor, brevardcountyrealtor, waterfrontrealtor" Dewayne Carpenter, & Kirk Kessel talk about how the spring home selling trend continues in 2024, and the factors impacting the real estate market in Brevard County, FL.