Buy or Sell Now – In Jacksonville Beach Area
Inventory among houses and condos is down over 30% from this time last year. At the beach our inventory is down almost 50% from this time in 2011. In a supply and demand business it has created an interesting scenario. The lack of inventory has put the ball completely in the sellers’ hands. Houses or condos that are priced right are selling in record time, and have all year thus far. What makes the situation interesting are the interest rates. With interest rates hovering around all time lows, buyers are coming out of the woodwork to take advantage. The question is how long will both last. How long will our supply be so low and the demand so high? How long will interest rates stay so low? While I won’t attempt to predict the future I can say that now is a great time to put your home on the market if it’s something you’ve been considering. Also, for the buyers out there, prices are still down at least 30% from where they were in 2006-07. Combine that with the current interest rates available suggest the time to buy could be now.