From Condominiums To Luxury Homes: How To Properly Sell Your Property

Real Estate Survival Guide with Terry Story

A Softening Of The Market

The share of homes sold at or above listed price dropped to 31% in March, from a peak that was around 40%. Many agents were pricing a little lower in order to get multiple offers. The market has continued to retract, to soften, since March which is a sign of the shift to more of a buyers’ market. However, less than being about a buyers’ market or sellers’ market, it depends on the price range you’re looking at.

Price Range And Inventory

In South Florida, where Terry works, one million and over is the luxury market for home prices, a market that has seen a definite softening. Depending on exactly where in town the home is, for homes priced under $500,000 it’s still looking like a sellers’ market. Under $300,000? That is decidedly a sellers’ market, as it has seen the lowest amount of softening, due in large part to it being the more affordable price range.

One characteristic of the current housing market is low inventory. People just aren’t putting their homes up for sale. This is particularly the case in the under $500,000 price range, where it seems many people aren’t willing to give up their homes. This means it’s more difficult to find a good buy in this price range, which ultimately hands the power to the seller. (0410)