Hillcrest Real Estate Realtors A Team Florida. As we have seen, interest rates are inching up and we expect the Fed to raise the Fed Funds Rate sometime this year. Home inventory is down 28% from this time last year. Most homes are selling within 60 days in our part of Hollywood. In the past 6 weeks, the two highest home sales in our zip code were in Parkview at Hillcrest; the third highest was in Emerald Hills. So, what is going to happen with the market? As physicist Niels Bohr said, “Prediction is very difficult, especially if it is about the future. ”
So far this year average days on market for a Hillcrest condo is 30. The only ones taking a long time to sell are those that have deals falling through or those that were listed months ago and waited until the market reached their price. Not a great strategy when we know that the new condo guidelines are getting tighter and we are all looking at higher maintenance fees and assessments. So, unless you are just taking a shot (and be sure you have an exit strategy – it is easy to sell but very tough to buy), consider the carrying costs during the time your property is sitting on the market.
The Hillcrest market has remained steady over last year. In the past 90 days, the lowest to highest sale prices for the largest corner units (1499-1634 SF) ranged from 155K to 259K (our sale), convertible 2/2s (1296 SF) ranged from $140,500 to 193K and the 1/1/1 units (994 SF) ranged from 92K to $149,900. However, all buildings are reporting higher sales prices. Just last month we sold a 672 SF 1/1/0 for 125K and a 744 SF 1/1/1 for 135K.
In the same 90 day period last year, the corner units ranged from 100K to 259K, convertible 2/2s from 108K to 190K and the 1/1/1 units from $106,500 to 127K. The main features that buyers are looking for are level of remodel, a nice view and newer A/C and water heater.
We work hard every day to get our sellers to get the most money out of their investment and we want buyers to get the most joy out of theirs! Our motto is #LoveWhereYouLive and we treat each and every buyer like a future neighbor.
When you are interviewing Realtors for the job of selling your “investment”, be sure you call us. Cindy Abraham and Brian Gaiefsky, Keller Williams A Team Florida. Call 8-HILLCREST or 954-964-2559.
3850 Washington, Suite #1016, Hollywood Florida 33021