As inventories shrink, local house sellers are getting multiple offers
The first six months of 2013 have been much better for those involved in the Brevard County real estate market — most notably sellers.
With inventories remaining tight, sellers are able to field numerous offers and list at higher prices than they have in several years.
Closed sales are up 12.4 percent for the first six months of this year compared to the same period in 2012, according to data released Monday by the Florida Realtors. The median sales price — the point at which half the homes sell for less, half for more — averaged $120,483 for the first half of the year compared to $114,066 for the first six months of last year.
“It’s very, very busy and that’s good,” said Rebecca Sparks of the Cocoa Beach-based Apollo Realty.
Sellers have been able to raise their asking prices and entertain multiple offers, Sparks said. The situation also allows sellers to have back-up offers if an initial transaction doesn’t occur.
Economists and others watch existing homes sales closely as it’s a good gauge on how the overall economy is performing and also how consumers feel about making a long-term investment.