Pending Home Sales Are Essential In Home Valuation
July 26th, 2010 | categories: Coconut Grove Real Estate Market Conditions
There are 32 homes currently pending in Coconut Grove. Keeping track of these sales is important for many reasons. First, it is the only indicator of where the market will head in the future. It is not rocket science that if we have many pending sales in the pipeline that sales will be strong in the coming months.
But more importantly I like to take a look at the “Asking Price Per Square Foot” at the time that the home went under contract. This figure gives me a better handle on where currently active homes should be listed. Most of these homes that are under contract now have been reduced over time and it is interesting to see at what price point they end up attracting a buyer.
To see a list of homes that are currently under contract in Coconut Grove, click here.
If you are interested in selling your home and would like a no pressure home valuation, please feel free to give me a call at 305.342.1623 or send me a note here.