SEPTEMBER/OCTOBER 2020 | TAMPA BAY MAGAZINE 103
Oriental Rug Bazaar
Direct Importer of Handknotted Oriental & Contemporary Rugs
LIQUIDATION SALE!
UP TO 60% OFFUP TO OFF!
Mention this ad for an extra $50 OFF!
See Jim Warren’s
art locally at the
Wyland Galleries
in St. Petersburg,
400 Beach Dr., NE
(727) 201-8285
REAL ESTATE
SELLER’S MARKET
STRONG
By Linda Ross Preston
T he real estate market is largely
driven by one of the most
basic economic tenets – supply
and demand – and right now,
supply is at the lowest we’ve seen
in over a decade. Rates continue to
remain historically low, dipping under
3% on a 30-year fixed mortgage...and
skyrocketing demand for housing as
a result.
Home shoppers enjoy more buying
power due to the low rates, and
sellers are raking in top dollar for
their properties. According to Florida
Realtors, the median value of homes
is up 4.7% year-over-year; inventory
is at the lowest point in over a decade,
with only 2.8 months’ supply of single
family homes and 5.7 months’ supply
in the condo/townhome market during
the second quarter. There’s no sign of a
slowdown, either.
Looking a few months ahead, I
anticipate a very strong sales season this
winter as people flee the North seeking
balmy weather and favorable tax laws.
Florida has undoubtedly bounced back
from the sharp decline in sales we had
at the onset of the pandemic, and we’re
poised to have a strong finish in 2020.
If you’re thinking about capitalizing
on one of the strongest seller’s markets
in years, start preparing now. Being
properly positioned for market is
paramount. The details make the
difference when a property debuts.
There’s never been a better time to sell...
reach out and let’s talk! 9
EDITOR’S NOTE: Linda Ross Preston of
Coastal Properties Group can be reached
at (813) 318-2408, or by emailing her at
Linda Ross Preston@CoastalPGI.com.
ADVERTORIAL
link
link