A market which has more sellers than buyers. Low prices result from this excess of supply over demand. also called soft market. opposite of seller's market.
The market this spring has been a very strong with very few homes available in many price ranges and multiple offers for many listings indicating that we are moving into a sellers market.
The Florida Association of Realtors reports that the inventory of homes in Okaloosa County is down 13% and pending sales are up 14.9% over last year. There is only 6.6 months of inventory at the moment versus last year the inventory was at 11.2 months. Another strong indicator that our market has shifted.
Back to your questions about new construction in Niceville. New homes have sold at 99% of list price. The average new home in NIceville is 146/ft. but expect to pay more in the range of 155- 199 in Swift Creek and many of the newer sub divisions with a custom home builder.
I think your Realtor is giving you good advice. Trust her judgement, she knows the Niceville market.
Best of luck to you!
Judy Griffin, Broker Associate
Keller Williams Realty - Niceville