The real estate market in South Florida has fluctuated significantly over the past 6-12 months. Between the recent presidential election, strong dollar, and Zika virus we have seen periods of high demand and low demand. With so many changes in such a short period of time, it is extremely important for sellers to be aware of what is happening in the market and price their home appropriately.
Here is a great article from The Real Deal which talks about the “new normal” in residential real estate.
A few good quotes from the article:
“The listing price has become the key selling point, regardless of a particular property’s location”
“Big price reductions are almost passe, bring the price to where you want to sell it”
“There is more inventory in the multi-million dollar market than ever before”
“Obviously everyone thinks their house is the Taj Mahal and they’re sitting on a gold mine.”
I’ve certainly come across a few of those in my career!