Every MLS has a map that divides the larger geographical area into Main and SubAreas for means of searching for a property. Let’s take Area 17 where I live which is in Santa Rosa Beach, FL and more commonly known as areas like Dune Allen, Gulf Place, Blue Mountain Beach, and Grayton Beach. I looked this morning being bored as the rain and lightning passed through and found out we only have 94 condos for sale in this area as of this morning. Then I ran the calculation for absorption rate and found out that Area 17 has a 12 month supply of condos at the current pace of sales. Six months is considered a balanced buyer and seller’s market. We have come along way over the past few years. Real estate is always local and I like looking at these numbers down to the most local area I can think of, my home area.
It is still a great time to buy, but inventory levels are coming down. As they do, prices will surely go up. Great news for me who hopes to sell next year at this time. My price will go up with the others. If you are looking to buy now, please consider using a buyer’s agent like myself. I will help you through the process from beginning to end.
I look forward to hearing from you soon.
Kelly Klein, Lifeguard Real Estate, Inc. 850-420-2480 or Kelly@KellyKleinSoldMine.com