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How to Take Advantage of the 2 Jacksonville Markets
Manage episode 166585639 series 1317066
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There are two markets that exist right now here in the Jacksonville area.
The first is the market for houses below $500,000. This is definitely a seller’s market, meaning there is not a lot of inventory but it’s selling very quickly. A lot of our buyers are taking the opportunity in relation to this by selling their houses below the $500,000 mark. Then, they're taking advantage of low interest rates and their new buying power to move up over the $500,000 mark in their next purchase. The market for houses between $500,000 and one million, then, represents the buyer’s market.
So, you see people selling in the seller’s market - which they’re doing quickly for top dollar and without many contingencies - and then moving up to buy in the buyer’s market where there are more choices and more room to negotiate. For the select few of us who are able to get into that higher end luxury market above $1 million, we’re seeing more than a 24-month supply. That’s an extreme buyer’s market, so if you have the means and the ability to get into that price point, you have a lot of choices and a lot of opportunities to get the right house at the right terms that are best for you and your family.
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