If you’re looking for the best real estate deals in 2019 read this article. As per the recent data published on Knock.com, they found Miami, Chicago, and Houston as the top places to find the best real estate deals. According to the trading platform, Miami offers 7-10% discount on property deals. Furthermore, the cities like Chicago is offering 5% above and the Houston is close to 5% according to the recent survey on property deals.
The survey is made on the basis of the actual listing price of a specific property and on the discounted prices, The top ten list is made upon the discount given precisely in between 6.8% to 4.6%. According to the stats, it’s a huge turnaround in real estate business considering the last few years. Because in the previous years the property was sold at premium prices even above from the listing prices in elite areas around the USA. For the same reason, the buyers need to pay a good amount to win nail-biting auctions.
According to Knock, they have researched on 2 million properties sold on the basis of 200 proprietary data points. As per the research, they think the most important and the most helpful data they have been collected for buyers is their future assumption on the market that is 77% of recent market listings will be sold under their actual listed prices by the earliest quarter of 2019.
If I deeply go through the stats & investigation report I’ll certainly find that in MSA areas (the Metropolitan Statistical Areas) around the United States the property was sold in 62% of their real listed prices.
The real estate experts made the assumption upon 484,843 active listings around the real estate industry in last 16 weeks up to 30th November 2018. Not counting space for lease. Further, they investigate data upon 1.8 million property sales up to 30th November 2018 before publishing the reports. Note the survey was made upon 45 MSAs in different time around the year.
What the Survey Tells?
On the same note, the experts also found that DOM has a great role on the forecast made on 2019’s real estate market forecast. DOM stands for “Day on Market”. They also found at least in the two months around the year the 83% properties were sold off their real listed prices. On an average, they sold properties 77% of their real prices.
According to the experts, the price discount will also continue in 2019 as 2018. Even they’ve predicted that the discounted price will go up to 10.2% in the Miami regions. So, Miami will be one of the great choices for the next real estate investment.
Again according to Knock CEO’s research, prices in many zones have been on the rise since a long time that even though everyone found that the market is now taking a breath. Few sellers are still looking for unrealistic prices. But very soon they’ll realize that their competition is selling swiftly and they’re just out of offers. So soon the expectations will change into reality. He also thinks as more time passes by, sellers will find that the offers they were receiving previously were the best and there is a good chance to take them as soon as possible. Financial advisor of Knock Paul Habibi finds that experts are already watching the slower movement in the price appreciation index and it is already bit cranked. Observing these numbers the general public will also find the reasons behind the properties are selling below the previous listing prices. Also, why it is making sense in the current market?
In conclusion, it is expected that this winter more people are up to sell their properties. So, it is the right to time buy a desired property. According to the findings on the survey, the discount index might hit up to 10.2% of the actual prices of the properties.