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Asking Prices Stay High, Demand Remains Low

The higher the asking price on houses in the current market conditions the longer it will stay on the

for sale market. There has been some discrepancy between what sellers are asking for and where the market is currently at. This has caused an 85% ratio of the sale to original list price. The 15% price drop is what is needed in order to move the million-dollar homes.

Currently homes listed for more than $1 million dollars have a market time of 10.37 months. At the current pace it would take 2.48 for all homes for sale in Orange County to be purchased. Homes listed under a million dollars have a market time of 1.88 months.

Posted by Adam Brett - Fullerton, California Realtor on 10/25/2009 05:43 PM

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orange county, california, remax, adam brett, prices stay high, demand is low, decrease in demand

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1 Comments on Asking Prices Stay High, Demand Remains Low

OCT

Many sellers do not quite get it that what they want they cannot get.

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