The Takeaway

• Market activity within a specified region can vary greatly, depending upon the sub-market type. As an example, there may be enormous demand for Single Family dwellings within a specific zip code,  causing them to sell very quickly and prices to rise.  On the other hand, that same zip code may have very weak demand for its Condo sub-market, causing long times on market and price reductions.
• In looking at the infographic above, we can see a distinct contrast between the inventory & demand of the Premium/Luxury Home sub-market vs. that of the Starter & Trade-Up Home sub-market.
• As noted in the infographic, The Premium/Luxury Home sub-market inventory continues to rise, thereby causing prices to cool, while the Starter & Trade-Up Home sub-market inventory continues to decline, causing prices in this category to rise.

As always, feel free to email, call or text me at 727-755-3434 and I would be delighted to provide you with the right information to make informed decisions!!

 

** Please note that data and statistics quoted above are based on a national level.  Always consult a competent real estate practitioner familiar with your local market, as real estate is influenced by, but not limited to factors such as sub-market type, geographical location, schools, area amenities etc…..**