Should I Sell My House Now or Wait until 2024?

If you’re considering selling your home now, you might wonder, “Should I sell my house now or wait until 2024?” Barring factors that may necessitate a fast sale, it can be a difficult decision. This post will explore whether you should sell now or wait until next year.

Sarasota Real Estate Market Watch

The average home sale price in Sarasota during October 2023 was $502,000. However, real estate trends are always changing. Contact Living Vogue Real Estate for help buying and selling homes in the Sarasota area.

Sell My House Now or Wait: What You Need to Know

1. Key Trends To Know of the 2023 market

The Sarasota real estate scene is buzzing with excitement as 2023 winds down. Sellers are in a fantastic position with high demand and limited availability. Home prices declined slightly toward the end of 2022 and the beginning of 2023. However, the year-end sees prices reaching their previous heights once again.

The number of homes for sale in Sarasota has been low throughout the year. However, demand has been high. The strong demand and limited supply have led to a price surge. Buyers are seeing more competition, and most homes are getting multiple offers.

2. Key Information From Experts

• The Sarasota market is approaching its prime homebuying season during winter. That means prices will likely remain stable or even experience a slight increase.
• Many experts are predicting interest rate reductions in the new year. Lower rates could lead to more buyers entering the market. That could increase demand and make it more of a seller’s market.
• The period from August 2013 to August 2023 witnessed a substantial increase of 148% in Sarasota’s median home prices. This growth outpaced the national average of 94% observed during the same timeframe.
• In the year 2023, there is a notable trend among buyers towards new construction, renovated homes, and waterfront properties.
• 62% of Sarasota homebuyers strongly preferred locating their new residences within the Sarasota metropolitan area.

Tip: For 2024, there are a couple of crucial factors that you must monitor. Always research the interest rates, government policies, homeowners insurance, inventory levels, and economic conditions. The availability of real estate can vary from month to month. Contact a real estate agent to ensure you get the latest info.

Many factors can matter when deciding when to sell a home. Taking time to understand the market and getting advice from real estate professionals can help you make a smart decision.

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