Anytime one turns on the news, they’re bombarded with constant housing updates from the newscaster telling them how fast homes are selling across the entire country.
Homes that are usually taking months to sell are taking mere days if even going on the market at all before getting a great, if not a full-priced asking offer!
Just this week, I read a report that stated that due to COVID-19 restrictions and how they’re affecting other states, mixed with the historic low interest rates, over a thousand people per day are moving to the state of Florida!
It’s crazy, but then again, I can not blame those who want to move to such a beautiful area!
It is hard to tell at this exact moment if the additional traffic we are seeing around Sarasota County is due to this, or a result of the snowbirds coming in early for the season.
So, with all of this talk about homes selling so fast right now throughout the country, and especially in the State of Florida, does this mean that mobile homes are selling just as fast?
We have seen a surge of snowbirds who already own homes living down here much earlier than normal.
We began seeing this surge of people in the late summer of this year, mostly in the more expensive mobile home communities throughout the Sarasota County area.
With this additional group of people, we have not seen much of an increase in home sales, but we have seen a large increase in homes that have been going on the market for sale. Most of the homes going on the market over the past few months are in the over $50,000 price point. Although they have sold quicker than what we have seen in the past, we have not seen the rapid speed of that, of the single-family market.
Aloha Mobile Home Park
What we continue to see is that homes that are priced right and marketed aggressively will sell quickly, no matter what time of year, or what the real estate market is currently doing.
We see homes stay on the market longer when the homes are not priced accurately for the community in which they are residing. This can happen often if the Seller is focused on receiving one amount for their home whether it is justified or not.
While some single-family neighborhoods can get away with huge price jumps to force area comps in the area we do not see that in the mobile home communities that we at, The Mobile Home Dealer, work in. One reason for this is that the homes that are in land-leased communities are taxed as personal property and not as traditional real estate, which makes pulling sales comps extremely difficult.
Mobile homes are a great, affordable housing option and one that will provide a faster than normal sale but has not seen the dramatic increase in price valuation as a single-family market has seen, throughout this real estate housing bubble that we’re currently in.
The good news is that although the housing bubble has not hit the mobile home market when this bubble eventually pops, as they all do, it should not affect the mobile home industry either!
Having said that, several market reports are forecasting an increase in mobile home sales in 2022 and 2023. In 2020, there is a big jump in the average price of mobile homes in Florida according to US census data.
Since 2014, prices of new mobile homes have spiked. That said, the average price of a mobile home is still much more affordable than the average price of a single-family traditional home. According to the U.S. Census data, the average price of a new manufactured home is $108,100 with a 19.5% increase from 2020. The average price of a single-family conventional home is $454,000. This makes mobile homes a much more economically viable option for many individuals and families.
Additionally, mobile homes are often situated in special, often gated, parks, making them a desirable and secure housing option. Furthermore, there are many amenities often found in these parks, such as pools and other recreational activities. All of these factors combine to make mobile homes a great option for those looking to invest in a new home. The low cost and secure environment of mobile homes make them an attractive option for those looking to buy a home on a budget
Although the price of new mobile homes is rapidly increasing, Buyers who have limited budgets still have many choices There are mobile homes that cost as low as $10,000 and can be good enough for a single homeowner. For a single family of two, the options are bigger.
Having said that, even though many buyers are shopping around, a mobile home can be hardly sold if the price is unreal. Some sellers are pricing their mobile homes way above the market value, which makes homes hard to sell.
If you are selling your mobile home, make sure to know the current mobile home pricing condition. Having your mobile home sit for a longer period unoccupied attracts a myriad of problems and financial losses.
We at the Mobile Home Dealer cater to both mobile home buyers and sellers. Whether you are selling your mobile home or looking to buy one, give us a call for smooth transactions.
The Mobile Home Dealer are licensed mobile home broker in Sarasota Florida and the surrounding areas. We provide professional buy and/or sell assistance to our clients. If you have any questions, please contact us by clicking this link. You may also visit our Facebook Page and send us a message.
This is Mark Kaiser with The Mobile Home Dealer and we help mobile home Buyers and Sellers get to a better place in life!
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