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Andrea Simon
The Space Coast Market
A view from a local Realtor with 30+ years’ experience
1st Quarter of 2025
- Prices are stable although decreasing slightly year over year
- Longer days on the market
- This leads to owners reducing their price
- More competing sellers this 1st Quarter vs 2024
- High interest rates lead to less buyer affordability
- Sellers can buy-down rates or closing costs to help buyers
Yes, this is not your typical market that is for sure. However, homeownership can be wonderful when you are looking to grow a long-term savings. Owning your own home gives you flexibility on improvements such as paint color and upgrades.
Are you renting and want to buy? Having the right guidance, from an experienced Realtor, agents can help you find affordable price range. Rent vs Mortgage… sometimes a mortgage can be less than rent but you may need to adjust your home demands. You can later sell and upgrade in a home, condo, or townhome with the equity you gain with ownership. It’s almost like a savings account when improve and take care of your home.
When you own a home already, there never seems to be the perfect time to sell and also purchase. Owners tend to look at their current equity to decide if it’s a good time to scale up or down in a home. Remember, if market is really good, yes you may get a lot more for your home. However, other owners demand higher prices too and you may find yourself competing with other buyers. Sellers in a strong market don’t want to wait for a buyer to sell their own home.
Talking with a Realtor can help you make an informed decision. Call me and we can talk real estate. If it’s not the right time for you to buy or sell, I will give you the good vs bad so you can decide for yourself.
