As I said yesterday, I wanted to see what the market was doing in our city. So I used a few numbers. Please bare in mind this is an informal MLS research.
Out of 2682 total homes on the market, only 120 have closed. That's 1.8% of homes are selling in this market.
Of homes above $300,000, 2348 are listed, 104 sold
Of homes above $400,000, 1893 are listed, 67 sold
Of homes above $500,000, 1264 are listed, 35 sold
Of homes above $600,000, 678 are listed, 20 sold
Of homes above $700,000, 418 are listed, 12 sold
As you can see, a very small amount of homes are selling. There are obviously many factors here, loans falling through escrow at the last hour, unrealistic asking prices, agents picking up any listings for a chance to have their signs on your property.
I still believe as I have seen in our office, homes priced well, qualified buyers and outstanding professional service does not come at a premium. Chose well, chose wisely. Chose the best for this market. And of course, if you have any questions, send your comment right blow here.
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