Keith Bailey Realtor Florida Real Estate Blog

  The Perks of Buying over Renting Thinking about buying a home? While today’s  mortgage rates  might seem a bit intimidating, here are two solid reasons why, if you’re ready and able, it could still be a smart move to get  your own place . 1. Home Values Typically Go Up Over Time There’s been some confusion over the past year or so about which way  home prices  are headed. Make no mistake, nationally they’re still going up. In fact, over the long-term,  home prices  almost always go up ( see graph below ): Using  data  from the  Federal Reserve  (the Fed), you can see the overall trend is home prices have climbed steadily for the past 60 years. There was an exception during the 2008 housing crash when prices didn’t follow the normal pattern, but generally, home values kept rising. This is a big reason why  buying a home  can be better than  renting . As prices go up and you pay down your mortgage, you build...

 🏡 Keith Bailey, REALTOR ® here from CENTURY 21 Blue Marlin Pelican . Let's dive into the latest market trends in beautiful Miramar Beach, Florida. 🌴🌊 📅 As of November 2023, we currently have a balanced market with a 7.9 Months Supply of Inventory. This means there is a healthy amount of homes available for buyers to choose from. 🏘️🔑 📈 Over the past 12 months, the Months Supply of Inventory has increased by an impressive +97.01%. This indicates a growing supply of homes in the market, offering more options for buyers. 📊📈 💰 Sellers, take note! The List to Sold Price percentage stands at a strong 95.6%. This means that on average, homes are selling very close to their asking price, maximizing your return on investment. 💵💼 ⏰ Buyers, act fast! The median days on market is only 32. This indicates that homes are selling relatively quickly in Miramar Beach, making it an active and competitive market. ⏱️⚡ 💲 Lastly, the median sold price in the area is currently $720,000. This ...