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386 315 4744
James@JamesJestes.com

Serving The Greater Daytona Beach Area

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Thinking of Selling Your Home? The Waiting Is The Hardest Part.

Thinking of Selling Your Home? The Waiting Is The Hardest Part. | Simplifying The Market

Tom Petty famously penned the words, “the waiting is the hardest part” in his early 80’s hit song The Waiting, and his thought process can surprisingly also be applied to individuals considering selling their homes today. Traditional thinking would suggest it may be best to wait until the spring to sell when there is a flood of buyers in the market, but right now may in fact be an even better time to list your home.

We can see the overall economy is good: wages are rising, there are near record-low unemployment rates, and mortgage interest rates are still very low too. Over the past 10+ years the housing market has stabilized, so what (if anything) is the biggest challenge in the housing market today?

The answer is simple: it’s inventory.

According to the Existing Home Sales Report by the National Association of Realtors,

“Total housing inventory at the end of September sat at 1.83 million, approximately equal to the amount of existing-homes available for sale in August, but a 2.7% decrease from 1.88 million one year ago. Unsold inventory is at a 4.1-month supply at the current sales pace, up from 4.0 months in August and down from the 4.4-month figure recorded in September 2018.”

What does this mean?

While homes are coming to the market, they aren’t coming fast enough! Right now, across the country there is less than 6 months of overall inventory of homes for sale, putting us in a seller’s market. The challenge is that there are not enough homes for sale to increase the supply needed for the number of people who want to buy, especially in the starter and middle-level markets.

To be in a balanced market (meaning we have enough inventory for the number of buyers in the market), we need to have 6 months of inventory available. Today we are nowhere near that number, and as a matter of fact, the last time we reached that height was August 2012 (as shown in the graph below):Thinking of Selling Your Home? The Waiting Is The Hardest Part. | Simplifying The MarketWhen we look at the inventory challenge today, we can see that now is a great time to sell your house. Truthfully, waiting may end up being the hardest part in the long run. This landscape is a great place for sellers who own homes in the starter and middle-level markets to take the opportunity to sell in a sellers’ market, before inventory catches up with demand. Serious buyers are actively in the market and ready to make a move at this time of year. When inventory is limited at the lower end, like it is today, selling before more homes are listed could mean a significant seller’s advantage to those who are ready to move up. The upper level of the market has much more inventory available to move into, so it’s a win across the board.

Bottom Line

If you’re considering selling your home, don’t wait – now is the time to make your move! Take advantage of the high housing demand and the low inventory of homes for sale at the lower end of the market and use your purchasing power while mortgage rates are low to go after the move-up home of your dreams. Let’s get together to decide if now is the right time for you.


GIVE ME A CALL AND LETS TALK ABOUT YOUR REAL ESTATE NEEDS – JAMES JESTES 386-315-4744

Most Recent MLS Listings Today

580 Rio Vista Avenue Daytona Beach FL 32114
Featured
1 / 69
$799,000
3
BEDS
2
TOTAL BATHS
1,841
SQFT
580 Rio Vista Avenue Daytona Beach, FL 32114
Single Family Residence For Sale
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Embrace the ultimate waterfront lifestyle in this stunning riverfront retreat, offering breathtaking views, deep-water access, and a private dock with a brand-new boat lift. This 3-bed, 2-bath, 1,841 sq. ft. home sits on 100 ft of deep water frontage

Listing courtesy of James Jestes of EXP Realty LLC
470 N Halifax Drive Ormond Beach FL 32176
Open House Sat, Jun 7, 12 PM
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$449,000
3
BEDS
3
TOTAL BATHS
1,650
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470 N Halifax Drive Ormond Beach, FL 32176
Single Family Residence For Sale
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Beachside beauty in a prime location—Minutes from the river, the ocean, and everything Ormond Beach has to offer!! This beautiful 3 bed, 2.5 bath stunner has it all: NEW roof (2024), HVAC (2022), Fully repiped with copper plumbing, ALL NEW ductwork,

Listing courtesy of Melody L Lopez of Aloha Realty of Florida LLC
417 S Palmetto Avenue Daytona Beach FL 32114
Open House Sat, Jun 7, 11 AM
1 / 62
$715,000
4
BEDS
3
TOTAL BATHS
3,143
SQFT
417 S Palmetto Avenue Daytona Beach, FL 32114
Single Family Residence For Sale
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Absolutely stunning 4BR/4BA custom-built coastal home offering breathtaking views of the marina and river! Built in 2019 with no expense spared, this exceptional property features a full mother-in-law suite with its own private entrance, full kitchen

Listing courtesy of Amy Hall of RE/MAX Signature
6091 Red Stag Drive Port Orange FL 32128
New Listing - 14 hours on site
1 / 57
$600,000
3
BEDS
3
TOTAL BATHS
2,627
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6091 Red Stag Drive Port Orange, FL 32128
Single Family Residence For Sale
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Coastal Luxury at Its Finest! From the moment you step through the door, you'll feel it—this is something special. Nestled in a highly sought-after Sterling Chase Subdivision, this stunning 3-bedroom, 2-bath home seamlessly blends COASTAL CHARM with

Listing courtesy of Christopher Dunlop of Call It Closed International Realty

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Related posts:

  1. 4 Reasons to Buy a Home in the Spring
  2. iBuyers: What Is the “Cost of Convenience” When Selling Your Home?
  3. What is the Cost of Waiting Until Next Year to Buy? [INFOGRAPHIC]
  4. The Cost of Waiting: Interest Rates Edition [INFOGRAPHIC]

Posted in: Blog, For Sellers, Housing Market Updates

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James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

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BUY AND SELL REAL ESTATE WITH JAMES JESTES

James Jestes Broker Associate SRN Real Estate Pros

James Jestes


Broker Associate | eXp Realty
386-315-4744
James@JamesJestes.com
I'm Available Daily:
8:00AM to 8:00PM

Call, Text or E-mail!

"As an Associate Broker with eXp Realty, I am dedicated to helping families and individuals accomplish their real estate goals by providing dedicated service when buying or selling a home. I have served my country in the U.S. Army and the U.S. Marines; I bring that same sense of service and selflessness to every one of my customers."

FEATURED LISTINGS

No Results Found.

SEARCH ALL OF THE GREATER DAYTONA BEACH AREA

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James Jestes, Your new favorite Realtor.

Hello my name is James Jestes and I am a Broker Associate with eXp Realty.  I am dedicated to helping you find your perfect new home. I’m a no hassle, no pressure agent here to help you accomplish your real estate goals. Please reach out to me and let me know how I can help you purchase or sell your home.

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James Jestes
eXp Realty
386-315-4744
James@JamesJestes.com

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