Editor's note: Roberta Ingletto talks about the Pinecrest / South Miami, FL real estate market performance in 2020.
Photo Credit: Courtesy of Concierge Realty Brokers
Last year, 2019, was a slower year and prices were definitely lower than they are now in 2020. This year has been a year I have never seen before. At first, in Q2 from March to May, everyone was on hold and people were expecting prices to drop drastically because of the economic slow-down from Covid. Turns out, the house demand has surged an incredible amount and we are actually short of inventory! Houses that were taking a while to sell before are now selling and spending way less time on the market. Inventory is slow, time on the market is less, and prices have gone up. Generally speaking, most clients we encounter want brand new homes or substantially renovated homes that are in move-in conditions now. People want houses over condos because they have more space for their families, they can work from home, they have privacy and don't have any rules or regulations from the condos. Although these past months have been centered around single-family homes more than condos, I do see people starting to go back to condos slowly because at the end of the day the maintenance of a condo is easier than a home. I do see now, people also going back and buying condos since at end of the day, maintenance, etc is easier than a home. South Florida is in high demand, and I foresee good activity in the next months.
Photo Credit: Courtesy of Concierge Realty Brokers
In 2020, now more than ever, I've seen how technology is playing a great role in how we conduct business. We're using technology in forms of videos, pics, facetimes to do remote showings, signing contracts through e-sign, etc. We have to be able to shift to all online and we have to learn how to do it fast to really make the most of the situation right now. Be creative, continue bringing value and keep focused. It is always a matter of basic supply and demand. It's simple. Real estate has its ups and downs but always has demand. People move, people get married, divorced, families grow, financially people do better or worse etc. There are always those life events that inevitably make people need to buy or sell a home, so there will always be activity.
Click "Learn More" above to contact Roberta Ingletto
