Regardless of the current state of the real estate market in Nocatee, FL, our skilled realtors at Your Home Sold Guaranteed Realty – Phil Aitken Home Team can help you achieve your real estate goals. But you still want to know – is Nocatee a buyer’s or seller’s market? 

We are also happy to discuss the current state of the real estate market in Nocatee with you and help you decide if now is the right time for you to make an investment or sell your asset. Our team will make sure you are aware of reports from the National Association of Realtors, including their latest one which shows that pending home sales have dropped in the last few months. We will help you understand what that information means for you and your family when it comes to your real estate transaction. 

Are you ready to begin your real estate journey? Give Phil and his team a call to start learning more about Nocatee’s current real estate market. We strive to make sure you have the most stress-free and enjoyable experience possible.

What Is a Buyer’s Market vs a Seller’s Market?

In order to make this real estate determination, you must first understand the difference between a buyer’s market and a seller’s market. Once you have a first grasp on those concepts, then you will be able to make a well-informed decision about buying or selling a home in Nocatee. 

The primary factor to consider when determining if it is a buyer’s market or a seller’s market is the basic economic concept of supply and demand. 

Buyer’s Market

When the condition of the current real estate market is in favor of home buyers, it means that the supply of homes is greater than the demand. In a buyer’s market, home buyers will generally be able to buy a home and get a great deal on it because home sellers will be desperate to finally take their homes off the market.

Seller’s Market

When the real estate market favors home sellers, it means that the demand for homes is greater than the supply. Home sellers will likely get many offers from prospective home buyers and will most certainly have the upper hand during negotiations. 

Having a clear understanding of the current real estate market will be the best way to determine whether or not you should buy or sell a home.

Is Nocatee a Buyer’s or Seller’s Market?

Now that the difference between a buyer’s market and a seller’s market is clear and you understand why that differentiation is important, we can move on to the more pressing matters at hand. Namely, answering the big question that is most important to you: is Nocatee a buyer’s or seller’s market?

The most recent data compiled from September 2021 through September 2022 shows that the current real estate market in Nocatee has remained in favor of home sellers. In fact, over the last 12 months, homes in Nocatee, FL, have sold for 36.1% more than they did at this time last year. However, it would seem that the trend is slowly beginning to change. 

According to Rocket Homes, the number of available homes for sale in the area have reduced 8.4% from August 2022 to September, and the number of homes that were sold in the same time frame decreased by 22.6%. For home buyers, they may be pleased to find out that 50% of homes on the market were sold below the home seller’s asking price, and homes had been staying on the real estate market 80.7% longer in September than in August. 

At the current time, however, Nocatee is still in the seller’s advantage, but the tides may soon be changing. This could, in part, be due to the rising interest rates caused by the Fed having raised mortgage rates as high as 7% in the past few months. Home sellers are not able to actually sell their homes as quickly because home buyers are second-guessing their ability to pay the monthly mortgage payment with such high rates. This could be fairly detrimental on both sides. 

Our Skilled Realtors Will Help You Be Successful When Buying or Selling a Home in Nocatee

If you are interested in selling a home in Nocatee while the market is changing, be sure to give our realtors at Your Home Sold Guaranteed Realty – Phil Aitken Home Team a call at (904) 544-5252. 

Our team will ensure that you are making the best decision for you and your family during this confusing time in the real estate industry. With our real estate guarantees, you can rest assured that we will always keep your best interest in mind and make sure you get the best possible deal.

If you are looking to become a home seller, our realtors are ready to provide you the assistance and resources you need.

We look forward to hearing from you!