The real estate market in South Florida hasn't been this hot in a long time. Did you know that 2016 was the best year for home sales in a decade?
There were nearly 5.5 million real estate sales transactions in 2016. New jobs and heavy economic gains had the market performing at its best levels since 2006.
With all that great market activity homeowners in Dania Beach are wondering what to expect.
While market activity can drive prices up, the number of transactions can also make prices falter in some sections. Plus, with heavy transactions, it isn't always easy for buyers to secure financing.
The real estate market in Dania Beach is dynamic for 2017. And we can show you how.
Let's get you some great insight. Here we go:
Interest Rates and Sales
Interest rates have been down in 2017 so far. This has encouraged new home buyers to get out there and lock in their rates.
However, some experts expect a rise in the near future. This could also encourage sales. People who have been wanting a new home or condo will want to get in while the mortgage terms are beneficial.
New Development
New development in South Florida is expected to continue to affect the market in 2017. In the United States, new construction sales were still lagging behind existing home sales in 2016.
As those numbers shift, the new inventory may make it more difficult for existing homes to sell. In fact, transaction numbers were down at the end of 2016.
Factoring in new construction, inventory, and the impact of luxury real estate gives a good picture of the market.
Luxury Real Estate
Thinking about purchasing luxury real estate in Dania Beach this year? Good news.
Real estate experts say 2017 is a good year to buy luxury real estate in South Florida.
Most Miami-Dade single-home sales are expected to be in the under-$1 million markets in 2017. This will force sellers of higher-priced homes to bring down their prices.
Sell Your Home in Dania Beach
There's no question. It's an exciting time to be involved in the real estate market in South Florida.
But if you are a homeowner looking to sell, you aren't necessarily looking for excitement. You're looking for a fast closing, a fair price, and a cash transaction if possible.
The process of finding a buyer, waiting for them to secure financing, and trying to get to closing can be tedious. So many sales fall through at the last minute after months of waiting.
In 2016 the average time to closing was up. And that's after you secure an offer.
Get an Offer Now
BiggerEquity is different. We make sales happen now.
BiggerEquity can close in as little as 7 days because we pay cash for our properties.
We purchase all types of houses, as-is and in any condition, so you don’t need to fix up the property. For motivated sellers in South Florida, there is no better answer to get your home sold.
Don't wait another day to figure out an answer for your Dania Beach real estate needs.
Contact us now to get the BiggerEquity 100% satisfaction guarantee.