Here’s the problem, sellers–price, price, price
Categories: Coral Gables, High Pines, Real Estate News, Selling Real Estate, South Florida Market Stats, South Miami
hi
I compiled single-family home sales statistics for Miami-Dade County since January of 2002. In April of ‘05, 40% of all listings sold. In August of ‘07, only 3% of listings sold. In August there were almost 15,000 single-family homes for sale. Fewer than 500 of them sold. What will make your house stand out of the welter of other houses for sale? The simple answer is price. It may not be what sellers want to hear, but a competitive price–the lowest asking price in your neighborhood–will sell a house in this market.
The average asking price for single-family homes in Miami-Dade County reached its peak in May, ‘05: $1,046,000. It has since declined to $699,000 in August, ‘07.
If you’d like any information about homes in easy-living South Miami/High Pines or Coral Gables, or would like to discuss pricing your home, please contact me at bishopric.r@ewm.com or 305-666-8686, ext. 2423.
Hi Robert, yes, I agree with you. We need to continue using our Facts and Trends and stop our Sellers from using the adage “but my neighbors house sold for $100,000 more a year ago.” In 2006 the prices were still high, but fewer properties were selling. Since January we have been on a downward slide and according to some people we will keep going down for another year. I am going to make a real effort this weekend to analyze some of my “listings” and talk to the Sellers about the reality of selling their home near the price that it is listed. I am sure I’ll lose a few listings but those are the ones that aren’t getting shown anyway. It’s time for all of us to lighten our load and get back to selling real estate.