As a seasoned real estate professional with over two decades of experience, I have never seen anything quite like the current market in South Walton. Typically, in a slowing market, we would expect to see a decrease in sales and a corresponding drop in pricing. However, that is not the case at present. Even with a steady decline in sales over recent months, pricing is actually inching up, defying conventional economic wisdom.
What’s driving this trend? The simple answer is a lack of inventory. Each day, we receive emails from agents searching for properties, and there simply isn’t enough product to meet the high demand. However, it’s important to note that simply pricing homes at random won’t necessarily work. Overpriced homes are not considered part of the selling inventory, and those that are priced to sell are going quickly.
We believe that 2023 will be remembered as the year of low inventory. If you know anyone looking to sell their property, now is an excellent time to do so. We would love to help and can provide valuable insights and expertise to help sellers maximize their return in this unique market environment.