August 2012 Activity…
For the ShowcaseMiami Team, the last half of August was quite slow. There weren’t many phone calls inquiring about our Miami Seller Listings. Our Buyers, in general, were not ready to make offers and secure a Miami house or condo.
September 2012 Activity…
Once September arrived, the phones started ringing off the hook for showing appointments for our Miami Listings. It just goes to show the mini-cycles in the Miami real estate market. There are periods of time that are significantly busier than others. We attribute the slowdown in August to many people (Buyers, Sellers, Listing Agents and Buyer Agents) going out of town before school starts back up. One would think that September would be a slower month with the Miami relocation season (February-August) coming to a close.
Jason’s Forecast for September-December 2012…
I think this year (September-December) will be much different than in years past. At last weekend’s open houses, we saw an urgency on the part of buyers that was reminiscent of the frenzied market of 2005 (a Record 150 Buyers and Realtors came to our High Pines Open House over the course of 4 hours). (See Sept 9th Blog Post at www.ShowcaseMiami.com) Today’s Miami Buyers understand that inventory has declined significantly and they are seeking to lock in a contract and secure a home. Miami Listing Inventory remains extremely low (today there are 10,000 available Seller Listings in Miami on the Multiple Listing Service (MLS)…5 years ago there were over 50,000 available Seller Listings in Miami).
Will the Upcoming Presidential Election slow Miami Real Estate Sales?
In the last 2 elections, we noticed a significant slowdown in the 2-3 months before the Presidential Election. The Buyers’ conventional wisdom was to see which regime was elected and how would the Miami real estate market be affected. Today, however, limited supply trumps Presidential Election considerations.
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