Realtors across the country are experiencing the challenges of high-demand and low inventory, but one market that has seen the most demand in the past 18 months is Florida. According to Redfin’s migration data, the net in flow for residents moving to the Miami area was at 11,931 in Q4 2021, up from 4,204 the year prior.
“Demand has not slowed since the initial outbreak of COVID-19,” said Jessica Bohner, broker/ owner of Premier Realty Group in Jupiter, Florida. “In fact, our biggest challenge is on the inventory side – bringing inventory to market to meet demand. We continue to maintain at or below 30 days supply of available homes.”
Bohner is the third-generation broker/owner of Premier Realty Group, following in the footsteps of both her grandmother, Trude Kennedy Neese, who founded the company in 1958, and her father Stephen E. Bohner. It’s up-and-comers in the industry like Bohner who inspired RealTrends’ newest award, RT Emerging Leaders, which recognizes real estate professionals under age 40 who are taking the current market head on and making a name for themselves in their areas.
We reached out to Bohner to learn more about the real estate market in her coastal Florida area and hear what advice she’d give someone starting out in real estate.
RealTrends: What’s the state of the housing market in your area?
Jessica: Our primary market areas include Martin and St. Lucie County [Florida] where we are experiencing a robust market. We continue to maintain at or below 30 days supply of available homes which is a result of incredible demand. Our area has been a hidden gem with a few special features — a four-story height limit, a wonderful community centered around lifestyle with our waterways and beaches at the top of the list, and A+ rated schools — making us a great option for families. Demand remains strong, so as inventory becomes available, it’s not uncommon to receive more than five offers, with median days on market at nine days and 100% list-to-sale price ratio!
RealTrends: What is surprising you most about the current market?
Jessica: Demand has not slowed since Q3 of 2020 following the initial outbreak of COVID-19. In fact, demand remains strong in our area, and our biggest challenge is on the inventory side – bringing inventory to market to meet demand. Of course the biggest challenge for many [consumers] is the process of selling without knowing where they are going given the [market] conditions. Aligning with a true professional Realtor who can help navigate this unique market remains most important.
RealTrends: How are you finding most of your clients right now?
Jessica: Relationships matter the most! Referrals and repeat clients remain at the top of [our] source-of-business report, followed by listings which generate buyer demand.
RealTrends: What advice would you give someone who is starting out in real estate right now?
Jessica: When I got into the real estate business in 2009, [it was] arguably one of the most challenging markets with unprecedented amounts of inventory in our marketplace. Today, we are experiencing a very different market, but nonetheless challenging. I believe mindset is the most important, controllable factor. Each market poses its own challenges, silver linings, and opportunities – align with a full-service brokerage that can both educate and provide guidance through the initial onboarding and training process, but also in perpetuity as the market shifts in the future.