Good Morning! Welcome to this week’s Miami Real Estate Break On Saturday Morning.
Today we are going to talk about checking the price of your home if it hasn’t sold.
In many price points in the Miami real estate market and surrounding neighborhoods, we are still experiencing a solid seller’s market. If your property is on the market and hasn’t sold, it could be the price.
If Your Miami Home Hasn’t Sold Yet… Definitely, Check the Price
When determining how to price a property we consider the following:
- How many properties are currently on the market in your neighborhood and what are the ACTIVE prices?
- How many properties are currently under contract in your neighborhood and what are they listed at when going under contract?
- What has recently sold over the last six months and how are they comparable to your property regarding price, condition, location and more?
If your house hasn’t sold, it could be the price.
If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the number of prospective buyers that will even see your house. See chart below.
If your house hasn’t sold, it may also be the location or condition of the property.
If the location of your property is not a favorite neighborhood or if the property is located next to an unattractive feature, this could also be a reason why the home hasn’t sold.
If the condition of the property is not attractive for instance if your home is dated in style, features and amenities this may also be a reason why the house hasn’t sold.
If you are not able to remedy location and the condition, ultimately the price can be adjusted to make a correction and get the property sold.
When selling a home in Miami, it’s essential to work with an agent who knows the market stats in your neighborhood so you can price correctly and get your home sold for top dollar in today’s market.
Call us today and let’s go over the market data to determine is now the time to sell your home: 305-793-8965
Miami Real Estate Neighborhood Updates
Ok, let’s get right into all the latest listings, price reductions, and solds from some of the popular neighborhoods of Miami and Miami Beach.
We are in the process of revamping our weekly updates and will add more neighborhoods bit by bit. Enjoy!
If you own a home or condo in Miami or Miami Beach and you’re considering selling, GIVE US A CALL. Our market is very competitive and to sell in today’s market, you need an experienced agent to help you sell faster and get top dollar. We would love to show you our savvy marketing and digital plan that allows properties to sell faster.
If you’re a buyer, let us know EXACTLY what you’re looking for, and I can set you up in our VIP MLS registry. This data is way more accurate than what you will find online on your on own, and you will be notified of properties as soon as they hit the market.
Miami real estate is like every other in regards to today’s market condition it’s all about market supply/demand, condition, location, and price. If you have any questions about buying or selling in today’s market, give us a ring, and one of us can go over what you can expect today: 305-793-8965