In keeping with our market’s historic seasonality, January’s real estate pace was busy. There has been increasing activity from buyers as well as an influx of new listings. In addition to my recent closing at VUE #703, I secured a contract with multiple offers at VUE #1709, and my sellers at the Mark have welcomed a successful contract as well.
In recent analysis of Gulf Coast real estate trends, year-over-year gains in sales volume and an increased transaction pace are positive indicators for sustained market strength. As we've advocated over the past year, sellers' calibrated pricing has been key in prompting market activity, drawing out buyers who have the advantage of high inventory.
"Luxury sellers have adjusted pricing expectations, with year-over-year declines across upper tiers coinciding with an acceleration in selling speed," says Anthony Smith, senior economist at Realtor.com. "This pattern points to improved alignment between price and demand rather than a speculative surge."
While 'adjusted pricing expectations' sounds like sellers are compelled to list at low prices, that's not really the case. The reality is that sellers are no longer able to count on the high premium that the Gulf Coast market had sustained in the immediate post-pandemic era. The market has now normalized, remaining highly desirable for our quality of life, statewide tax advantages, and appealing inventory, but reflecting a more measured approach from buyers who have abundant choice and the capacity for longer wait times. Click here to request a market consultation.