The important takeaways concerning the first half of 2019:
While the market in 2019 has certainly outperformed the early prognostications with more sales, higher average sale prices and shorter marketing times, sellers have had to give ground to buyers to achieve those results in terms of their overexuberant expectations. Over 80% of the entire inventory of properties for sale suffered a price reduction in the first half of 2019 and the depth of those price reductions increased more than 50% over the prior year.
Sellers have had to reduce their expectations of price in unprecedented numbers to an unprecedented degree to attract a buyer in 2019. Overall, average sale prices in the Keys continued to rise largely because of the gains in the luxury market.
Average List Price reduction during the listing term for Sold Properties was 4.6%
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Lela Ashkarian, PA, ABR, CRS, GRI, e-PRO
Coldwell Banker Schmitt Real Estate
International President's Elite Award
11050 Overseas Highway,
Marathon, Fl 33050
Land Line: 305-289-6492,
www.SearchFloridaKeysHomes.com
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