Although the conditions of the market fluctuate, it is possible to interpret trends. The Jacksonville housing market shows signs whether it is a good time to buy or sell. Buying or selling at the right time can increase your profit, as well as save you time and energy. Embarking on a real estate transaction in an unfavorable market, on the other hand, can wreck your budget and waste your time.
What’s a Buyer’s Market Versus a Seller’s Market in the Jacksonville Housing Market?
Simply put, a buyer’s market is one that favors the homebuyer. The conditions of a buyer’s market are that the supply of houses is high and demand is low. This gives homebuyers almost free rein in negotiating price and terms of the sale.
A seller’s market, on the other hand, favors the home seller. This means that the supply of homes for sale is low and the demand is high. They have the upper hand in negotiations and can often stipulate that the buyer has certain responsibilities like repairs. Homes in a seller’s market tend to sell fast, so it’s important for homebuyers to act quickly.
Is Jacksonville a Buyer’s or Seller’s Market?
According to industry data for the end of 2022, the Jacksonville housing market is a seller’s market. However, as 2023 begins, the trend is towards a neutral market.
What does a neutral market in 2023 mean? A neutral market is one where the supply of homes meets the demand and neither the home seller nor the homebuyer has an obvious advantage in negotiating price or terms. This means that, with the right help from an experienced realtor, both homebuyers and home sellers can be successful in their real estate transaction.
Buying or Selling a House in Jacksonville
If you want to buy or sell a house, the best way to start is getting an expert realtor by your side.
Because neither party has the upper hand in a neutral market, having a skilled negotiator by your side can help you increase your profit or reduce the sale price, establish favorable terms and save you time.
At Your Home Sold Guaranteed Realty - Phil Aitken Home Team our expert realtors are experienced in every type of market and have intimate knowledge of the Jacksonville housing market. We can help you get a great deal without wasting time and energy listing or searching for a home when conditions aren’t favorable to you.
But, it’s important to act fast as the conditions of the housing market fluctuate. Get started buying or selling a home today with Your Home Sold Guaranteed Realty - Phil Aitken Home Team, your Jacksonville go-to for all your real estate needs. Call us at (904) 544-5252 or contact us by completing the form below.