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5 THINGS TO DO IF YOU’RE SELLING YOUR HOUSE DURING THE PANDEMIC 

1. Clean and disinfect your home thoroughly. Finish up any DIY jobs and work on your homes curb appeal. 

2. Reschedule any in-person open houses, ask your Realtor and schedule an online open house. to create a video tour

3. Use teleconferencing and e-signing programs to negotiate contracts. 

4. Be flexible. Know that your closing dates could shift, so be sure to account for potential delays.

5. Don’t panic. People have more time now to house-hunt, and everyone needs a place to call home. When the stay-at-home order is lifted, you’ll be ready. 

Sources: Forbes, USA Today

Reprinted with permission Florida Realtors. All rights reserved. 

HUD 2021 Housing Market Conditions Summary for Broward County Florida

The home sales market in Broward County is currently balanced. The number of homes sold totaled 43,250 during the 12 months ending (12ME) January 2021, a 6% decrease from 45,850 homes during the 12ME January 2020 (CoreLogic, Inc., with adjustments by analyst). The average sales price rose 14% to $362,800. Real Estate Owned (REO) sales accounted for 2% of existing home sales during the 12ME January 2021, down from 3% during the previous 12 months. Based on preliminary data, single-family home construction, as measured by the number of homes permitted, totaled 1,375 homes during the 12ME January 2021, down from 1,575 during the previous 12 months. The apartment market in the county is balanced. The apartment vacancy rate was approximately 7% during February 2021, unchanged from February 2020 (ALN, with adjustments by the analyst). The average rent was approximately $1,725, up 4% from a year ago. Multifamily permitting activity in the county decreased during the past year but has generally trended upwards since the mid-2010s. Based on preliminary data, 2,375 multifamily units were permitted during the 12ME January 2021, down from 3,725 units during the 12ME January 2020. An average of 2,750 units was permitted each year from 2012 through 2019, more than double the average of 1,025 units permitted annually from 2007 through 2011, but below the average of 3,775 units permitted each year from 2000 through 2006.

HUD 2020 Housing Market Conditions Summary for Palm Beach County Florida

The home sales market in the county is slightly tight. Home sales, including new and existing single-family homes, townhomes, and condominiums, decreased 1% from a year earlier, to 40,925 homes sold during the 12 months ending February 2020 (Metrostudy, a Hanley Wood company). The average sales price for a home was $405,300, up 5% from the previous 12 months. During the 12 months ending February 2020, about 3,300 single-family homes were permitted, up 8% from a year earlier (preliminary data). From 2012 through 2016, an average of 2,525 single-family homes a year were permitted, compared with 2,800 homes a year in 2017 and 2018. The Palm Beach County apartment market is currently balanced. The apartment vacancy rate during the first quarter of 2020 was 4.3%, down from 4.9% a year earlier, and the average rent increased 5% to $1,706 (RealPage, Inc.). Multifamily construction in the county, as measured by the number of units permitted, decreased in response to slower population growth in recent years, but spiked in the past year. During the 12 months ending February 2020, about 3,125 multifamily units were permitted, up from 1,800 a year earlier (preliminary data). Permitting averaged nearly 2,600 units annually from 2012 through 2016 but decreased to 1,525 units a year in 2017 and 2018. In March 2020, the 456-unit Uptown Boca, in Boca Raton, began preleasing; rents for the one-, two-, three-, and four-bedroom units start at $1,900, $2,400, $3,200, and $3,600, respectively.

HUD 2020 Housing Market Conditions Summary for Miami-Dade County Florida

The home sales market in Miami-Dade County, FL is balanced, with an estimated vacancy rate of 1.5 percent as of March 1, 2020. The number of homes sold totaled 44,900 during the 12 months ending (12ME) February 2020, down 7 percent from the previous 12 months (CoreLogic, Inc., with adjustments by analyst). The average sales price increased 4 percent from the previous year to $416,300. Real estate owned (REO) sales accounted for 3 percent of existing home sales during the 12ME February 2020, down from 4 percent the previous 12-month period. Based on preliminary data, single-family home construction, as measured by the number of homes permitted, was 2,200 homes during the 12ME February 2020, compared with approximately 2,525 homes during the 12 months ending February 2019. The apartment market in the county is currently balanced. The apartment vacancy rate in the county was approximately 4 percent during the fourth quarter of 2019, unchanged from a year ago. The average asking rent was about $1,690, a 4-percent increase from a year ago. Based on preliminary data, multifamily construction, as measured by the number of units permitted, totaled 8,050 during the 12ME February 2020, down from 9,250 during the 12ME February 2019.Official Site of Smarthome.com

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